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Hershey Aims to Establish Presence in China

Aware that it needs China's sweet tooth, Hershey Co. (HSY) is rolling out a Chinese brand designed for the world's fastest-growing candy market.In a first launch beyond the U.S. market, Hershey is unveiling Tuesday a candy known in English as the Lancaster and in Chinese as Yo-man. The Pennsylvania company plans to spend "several million dollars" marketing three kinds of the condensed-milk candy to gain a share of China's market for milk candy, which Hershey estimated to be worth 7.5 billion yuan ($1.2 billion).Premium milk candy is the fastest-growing segment in China's candy market, Hershey said.To better concoct recipes that cater to Chinese tastes, Hershey on Wednesday will officially open its Shanghai-based Asia Innovation Center. It will be the company's second-largest research and development center world-wide. One of Hershey's main rivals, Kraft Foods Group Inc. (KRFT), has captured a growing segment of China's snack-foods business by selling Oreos with special flavors like Gre...

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  1. Hershey's Profit Beats Estimates as Costs Drop

    Chocolate maker Hershey Co reported a better-than-expected quarterly profit as lower commodity prices and cost cutting boosted margins.The maker of Kit Kat, Twizzler...

  2. Hershey 1st-Quarter Profit Up 22% as Sales, Margins Rise; Co Raises View

    Hershey Co.'s (HSY) first-quarter profit rose 22% as the candy maker sold more candy across the globe, while margins rose due to lower costs.The company also raised ...

  3. Asian Cocoa Grindings Fell 10.8% in the First Quarter

    Asian grindings fell 10.8% on the year in the first three months of 2013, to 140,062 metric tons, the Cocoa Association of Asia said on Wednesday.Cocoa grindings, a ...

  4. Hershey Promotes Slew of Executives; Tacka Named New Financial Chief

    Hershey Co. (HSY) promoted a slew of executives ahead of Thursday's first-quarter report, including the naming of a new chief financial officer.The maker of Kisses a...

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  7. Hershey CEO Bilbrey's 2012 Total Compensation Valued at $12.3 Million

    Hershey Co. (HSY) President and Chief Executive John P. Bilbrey received total compensation valued at $12.3 million in 2012, a 15.7% increase from 2011 as the candy ...

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  1. US Candy Maker Hershey Co. Signs Abidjan Cocoa Declaration

    U.S.-based candy maker Hershey Co. has signed the Abidjan Cocoa Declaration, taking the total number of cocoa stakeholder signatories to 34, the International Cocoa ...

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  3. Mondelez Spends to Stay Ahead Overseas; Sales Hit by Coffee, Gum

    Mondelez International Inc. (MDLZ) is trying to stay ahead of competitors, eyeing emerging markets' growing appetite for snacks.The maker of Oreos cookies, Cadbury c...

  4. Mondelez 1st-Quarter Profit Fell 30% Amid Spinoff Impacts, Low Coffee Prices

    Mondelez International Inc.'s (MDLZ) first-quarter revenue growth missed long-term targets for the third straight period since spinning off its North American grocer...

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    It's no secret that defensive industry sectors like consumer staples and utilities have been leading major U.S. stock market benchmarks to all-time new highs. But ha...

  6. Hershey's profit beats estimates as costs drop

    Chocolate maker Hershey Co reported a better-than-expected quarterly profit and boosted its full-year profit forecast as lower commodity prices and new products boos...

  7. Hershey 1st-Quarter Profit Up 22% as Sales, Margins Rise

    Hershey Co.'s (HSY) first-quarter profit rose 22% as the candy maker sold more candy across the globe, while margins rose due to lower costs.With the margin picture ...

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