Nestlé is to invest a billion dollars in Mexico, building two new factories in the country, which is the sixth largest global market for the company.
The announcement was made by Nestlé CEO Paul Bulcke during the World Economic Forum in the Swiss resort of Davos.
The five-year investment will fund a new infant nutrition factory in Ocotlán, in western Mexico's Jalisco state, and a pet food factory in the city of Silao, in the central Mexican state of Guanajuato. It will also be used to expand Nestlé's cereal factory in Lagos de Moreno, also in Guanajuato state, with state-of-the-art technology, making it the company's largest in the region.
The investment would, he said, enable the creation of 700 direct and 3,500 indirect jobs, as well as bolstering the amount of raw materials purchased locally.
Source: Nestlé / Shaun Weston - Original Article: http://www.foodbev.com/news/nestl-to-invest-a-billion-dollars-in-mex#.UuKK_BAo7AU 24 Jan 2014
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