Nestle invests $104M in its China expansion

Wednesday, 20. May 2020 15:39

Food giant Nestle said on Wednesday it plans to invest 100 million Swiss francs ($103.58 million) on strengthening its position in China, its second-largest market, and enhance its product portfolio. The investment includes opening its first plant-based product production line in Tianjin Economic-Technological Development Area (TEDA) and expansion of the existing pet food factory there as well.

Chairman and CEO of Nestlé Greater China Luo Shide said: "Nestlé has always maintained a firm commitment to the Chinese market and has continuously consolidated its foundation for development in China. Since Nestlé opened its first factory in Tianjin in 1994, Tianjin Economic Development Zone has always been one of our important bases for development in China, and the company has continued to increase investment."

Nestlé Greater China currently has 31 factories, 3 R & D centers and four product innovation centers, dairy farming training centers, Nestlé Coffee Center, Food Safety Research Institute, 3 customer communication centers, and overall around 43,000 workers.

Related Links: Nestlé SA
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Breaking the News / TF