Nestle to Invest $154 Million in New Coffee Factory in Mexico
December 19 2018 - 4:13AM
Dow Jones News
By Max Bernhard
Nestle SA (NESN.EB) said Wednesday that it plans to invest $154
million in a new coffee factory in Veracruz, Mexico.
The new facility will process 20,000 tons of green coffee a year
and brings the number of Nestle's production sites in the country
to 18, it said.
"Nestle has identified coffee as a strong growth driver, and the
coffee business has seen positive organic growth over the past
years," the company said.
The new factory will employ 250 people directly at first, but
the number could go up to 1,200, Nestle said. Indirectly, the plant
is expected to generate 2,500 jobs at first, and up to 12,000
later, it said.
Write to Max Bernhard at max.bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
December 19, 2018 03:58 ET (08:58 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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