On the Street -- Kellogg Expanding Development Institute
October 7/Drug Week -- Kellogg Company held a dedication ceremony to mark the completed expansion of its W.K. Kellogg Institute for Food and Nutrition Research, the epicenter for Kellogg's global product development, research and innovation and an important driver of the company's ongoing success. The ceremony was attended by elected officials, and community and company leaders. The $54 million, 157,000-square-foot pilot plant and office space expansion "demonstrates the Company's ongoing commitment to growth and building powerhouse brands that meet the needs of customers and consumers worldwide," the company notes.
Since the opening of the W.K. Kellogg Institute in 1997, Kellogg Company has seen net sales double from $6 billion to nearly $13 billion. Product renovations and innovations have been one of the key drivers in the company's focused business strategy of growing cereal and expanding snacks. In 2008, 15% of sales, approximately $2 billion, came from new products launched in the past three years. The expanded facility will support Kellogg's continuing commitment to innovation and its proven track record of delivering results from new product developments.