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| Nestle to invest $241 mln in South-east Asia this year |
6/17/2009 8:33:44 AM
The world’s largest food company, Nestle SA, said Saturday (13 June 2009) it would invest 260 millions Swiss Francs (241 million dollars) in South-east Asia this year to expand its business and manufacturing facilities in the region. “The ongoing investments demonstrate our confidence in the region,” Chief Executive Officer Paul Bulcke said in Singapore.
With a population of 600 million people Southeast Asia “definitely has a huge potential for us,” he said, pledging the firm’s commitment to the emerging markets despite the economic slowdown. In 2008, Nestle’s business in the region grew by 15 per cent with sales of around 5 billion Swiss Francs.
Of the total 260 million Swiss Francs investment in Southeast Asia for 2009, Nestle would commit 85 million Swiss Francs in Malaysia to meet the increased demand for halal food in compliance with Islamic law. In the Philippines, Nestle would invest 72 million Swiss Francs this year, the company said.
It committed 56 million Swiss Francs to build a new pet food factory and to expand a facility for the production of milk and coffee products in Thailand. Capital investment would also go to Vietnam, Indonesia and Singapore, Bulcke said. Nestle manufactures in 10 countries in Southeast Asia with a total of 23 factories and around 15,000 employees. |
| DPA |
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