Nestle to invest $390 million in Mexico
01 Feb 2010
The world's largest food and beverage company Nestle will be investing $390 million in Mexico over the next three years to strengthen its production capacity and infrastructure in Mexico.
A majority of the $390 million will be invested in the Nescafe instant coffee processing plant in Toluca near Mexico City to increase the facility's capacity by 40 per cent, which will then become the world's biggest coffee processing plant.
This investment is a series of investments that the Vevey, Switzerland -based Nestle with 2008 revenue of $103 billion had announced earlier as part of its planned $1 billion investment in Mexico between 2008 and 2012.
The company said that it will also invest in cutting-edge technology to increase the nutritional value of its milk products such as Nido and Svelty.
In addition, this investment will be used to strengthen Mexico's regional supply position in Latin America where it exports brands such as Nesquik, Coffee-Mate and Maggi.
Nestle, which has been operating in Mexico since the past 80 years, has 14 state of the art factories, over 6,000 employees, hundreds of local business partners, and a wide distribution network selling its popular brands like Nescafé, Abuelita, Nido and Carnation among others.