Friday, December 1, 2023

Unilever announces 5.5-billion-peso investment in its 4 Mexican plants

Unilever has announced plans to invest 5.5 billion pesos (US $277 million) in its four Mexican plants over the next three years. The company, which owns brands such as Knorr, Hellman’s, Dove and Holanda ice cream, plans to increase production of its food, hygiene and personal care products.

The company also announced that it will begin exporting ice cream to all of 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.

Economy Minister Tatiana Clouthier celebrated the announcement.

“It speaks to importance of the USMCA [trade agreement] as a strategic point for exports,” Clouthier said. “Unilever directly provides work for more than 6,500 people, imagine what it is generating indirectly … investors have confidence in Mexico, its economy and the labor force.”

The four Unilever plants are located in Mexico City, Morelos and México state. The British-based company said the new investment will lead to the creation of 3,000 new jobs, directly and indirectly.

With reports from El Financiero

Have something to say? Paid Subscribers get all access to make & read comments.

‘Tis the season for poinsettias, the Christmas flowers native to Mexico

Whether you call them poinsettias, nochebuenas or cuetlaxochitl, get ready to see this native Mexican plant everywhere as Christmas approaches.

October remittances highest ever recorded in a single month

Remittances to Mexico have been on a record-breaking trend since the start of the pandemic, but the peso's strength has affected purchasing power.

Interpol issues Red Notice for fugitive mayor of Toluca

He's accused of the unlawful arrest of his former father-in-law and of physical and sexual violence toward his ex-wife.