VEVEY, SwitzerlandNestlé S.A. is investing $1 billion in Mexicothe sixth largest global market for the companyto build an infant nutrition factory and pet food factory in Mexico. The funds also will go toward the expansion of Nestlés cereal factory.
Making the announcement during the World Economic Forum in Davos, Switzerland, Nestlé CEO Paul Bulcke said the 5-year investment will fund a new infant nutrition factory in Ocotlán, in western Mexicos Jalisco state, and a pet food factory in the city of Silao, in the central Mexican state of Guanajuato. It also will be used to expand Nestlés cereal factory in Lagos de Moreno, also in Guanajuato state, with state-of-the-art technology, making it the companys largest in the region.
This investment is a striking example of our commitment to Mexico, and our long-term vision in a market with high growth potential," Bulcke said.
The factories in Mexico, the second largest market in Latin America for Nestlé, also will produce goods for the wider region. Approximately 40% of the products made at the new infant nutrition factory in Ocotlán will be exported to Latin America and the Caribbean.