Nestlé has announced plans to invest $700 million to modernise its 17 factories in Mexico and boost its production capacity in the country.
As it integrates state-of-the-art technology at its Mexican facilities, the company expects to create 400 new job positions in the coming years.
Nestlé said it will accelerate its work on innovation and the development of healthy products to meet the nutritional needs of Mexican consumers.
“From the beginning, innovation has been a key piece in maintaining our leadership in nutrition, health and welfare,” said Laurent Freixe, Nestlé’s CEO for zone Americas.
“We have focused our efforts on building a solid and sustainable innovation ecosystem, which allows us to continue exploring new technologies, production processes and business models for the benefit of the health of our consumers.”
The $700 million expenditure includes a $200 million investment in the new coffee plant in Veracruz, which will process 20,000 tons of coffee per year and is expected to open in the fourth quarter of 2020.
Nestlé points to its recent investment in Mexico-based venture capital firm Angel Ventures as an example of its commitment to new technology and business models.
The company added that its recently launched CHF 250 million ($259.5 million) sustainable packaging venture fund will also benefit the Mexican market.
© FoodBev Media Ltd 2019