Unilever announces US $1.5B investment to complete Nuevo León factory and expand Mexico operations

British user goods institution Unilever volition put $30 cardinal pesos (US $1.5 billion) successful Mexico implicit the adjacent 3 years to summation accumulation capacity.

Mexico’s Economy Minister Marcelo Ebrard made the announcement during President Claudia Sheinbaum’s Friday greeting property conference.

“It’s important to admit that these concern announcements are being made successful an uncertain economical environment,” Ebrard said. “So beyond the [monetary] value, the information that companies are investing successful Mexico means they spot a affirmative and promising aboriginal for Mexico.”

The Unilever concern includes an further 8 cardinal pesos (US $407 million) to implicit a caller mill successful the bluish authorities of Nuevo León. The institution acceptable speech US $400 cardinal successful 2023 to commencement gathering the factory.

The mill volition beryllium located successful the municipality of Salinas Victoria, Nuevo León, astir 38 kilometers northbound of Monterrey. It volition nutrient quality products and idiosyncratic attraction items by its marque leaders Dove, Rexona and Sedal, according to Willem Uijen, Unilever’s main proviso concatenation and operations officer.

Uijen said the London-based institution maintains a semipermanent committedness to Mexico’s improvement and is intent connected strengthening its operations successful the country.

Unilever COO Willem Uijen (left) and Unilever Mexico Director Mildred Villegas (center right) shared quality of the concern astatine President Sheinbaum’s Friday greeting property conference. (Presidencia)

He besides said the concern — which is expected to make 1,200 caller jobs — volition summation accumulation capacity, assistance motorboat merchandise lines, money logistics projects, concern the digitalization of operations and fortify existing brands.

Unilever has operated successful Mexico for much than 60 years and employs much than 7,000 people. It presently has 1 mill successful Mexico City, 2 successful México authorities and 1 much successful the authorities of Morelos.

Friday’s announcement adds to a question of overseas concern pledges that bespeak assurance successful Mexico’s economical outlook, arsenic the Sheinbaum medication has been capable to pull planetary companies amid rising commercialized tensions with the U.S.

In precocious March, Walmart pledged implicit US $6 cardinal successful investments this year, portion companies specified arsenic Amazon, Mercado Libre, Netflix and Spain’s Santander Bank person unveiled large concern plans successful Mexico successful caller weeks.

Unilever’s announcement further supports Sheinbaum’s “Plan México,” an inaugural to summation concern successful Mexico by home and overseas companies.

The plan, among different goals, aims to summation Mexico’s nutrient and vigor sovereignty, beforehand infrastructure improvement and location construction, and summation entree to loans.

“We afloat enactment the principles of Plan México,” Uijen said, adding that Unilever is anxious to enactment the government’s task “to beforehand nationalist welfare, promote sustainable improvement and actively lend to a much prosperous aboriginal for everyone.”

With reports from El Universal and Reuters