A statement released by Unilever reveals the firm is set to invest 5.5 billion pesos, equivalent to US$277m, in four of its plants based in Mexico. The investment will be in phases and is scheduled to cover three years.
A renowned conglomerate responsible for brands such as Knorr, Hellman’s, Dove, and Holanda ice cream, Unilever makes the latest investments as part of plans to scale up production of its food, personal care, and hygiene line of offerings.
The firm has also expressed its plans to spread its ice cream line into North America.
“This investment will allow us to grow the production and increase the exportation of our products by roughly 20 billion pesos [US $1 billion] over the next three years to our main commercial partners, which are the United States, Canada, the Caribbean, Central, and South America and some European countries,” said Reginaldo Ecclissato, president of Unilever in Mexico and Northern Latin America.
The announcement of this new investment plan garnered applause and commendation from Economy Minister Tatiana Clouthier. In her comment, she observed that “It speaks to the importance of the USMCA [trade agreement] as a strategic point for exports. Unilever directly provides work for more than 6,500 people, imagine what it is generating indirectly.”
The Minister also believes that the deal is a notable indicator that investor confidence in the economy of Mexico and the expertise of its labor force is gaining momentum.
The four Unilever plants are spread across Mexico City, Morelos, and México state. With this new investment alone, the UK-based firm hopes to add another 3,00 jobs to the Mexican labor market.
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