Unilever to Invest $1.5 Billion in Mexico, Including New Factory
Consumer goods company Unilever said on Friday that it will invest $30 billion pesos ($1.5 billion) in Mexico between 2025 and 2028 to increase its production capacity.
The investment, which was announced at Mexican President Claudia Sheinbaum's daily morning press conference, will generate 1,200 new jobs, according to a company executive.
It includes 8 billion pesos for a new factory in the northern Mexican state of Nuevo Leon, which will specialise in beauty products and personal care.
Unilever's announcement comes as Sheinbaum is making a major push for her 'Plan Mexico' initiative to increase investment in Mexico by domestic and foreign companies.
Walmart's Mexico unit and Netflix have also announced major investments in Mexico in recent months.
By Ana Isabel Martinez and Emily Green; Edited by Stephen Eisenhammer and Sarah Morland
Learn more:
Unilever Sales Rise 3% on Demand For Premium Products
The European consumer goods giant beat expectations in its first-quarter earnings, citing strong demand and successful price increases.
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