Nestle to build 2 new factories in MexicoJanuary 24, 2014 @ 3:56 am
GENEVA (AP) - Swiss-based food and drinks company Nestle SA says it will build two new factories in Mexico and invest $1 billion in the country over five years.
Nestle said Friday that it will build an infant nutrition factory in Ocotlan, in western Jalisco state, and a pet food facility in Silao in the central state of Guanajuato.
The company says it also will expand and upgrade a cereal factory in Lagos de Moreno, also located in Guanajuato state. CEO Paul Bulcke says the investment will lead directly to the creation of 700 jobs.
Bulcke says the decision reflects Nestle's "long-term vision in a market with high growth potential." The company says Mexico is its sixth-biggest global market.
(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Wake Up Call
Lawmakers say a train derailment in Seattle this morning underscores the need for new rules
Five position battles will likely be settled at Seahawks training camp
What airplane-building robots actually mean for Boeing Machinists
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.