DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
A-Brands

Unilever To Build Mexico Plant As Part Of $400m Investment

By Reuters
Share this article
Unilever To Build Mexico Plant As Part Of $400m Investment

Unilever plans to build a manufacturing plant in the northern Mexican border state Nuevo Leon as part of a $400 million (€372.6 million) investment in the country over the next three years, the company said.

The plant, which will be located in Salinas Victoria on the outskirts of Monterrey, will manufacture beauty and personal care products, Unilever said.

The investment will bring in 1,200 new direct and indirect jobs, the company added.

Unilever already operates four plants in the country, which is a key centre for exports to other nations, the company said. The newest plant is set to open in 2024, Unilever said.

In recent months, major producers from Mattel Inc to BMW have opted to invest in Mexico as part of a boom in 'nearshoring,' or bringing supply chains closer to their final destination.

ADVERTISEMENT

Read More: Unilever’s Fourth-Quarter Sales Boosted By Higher Prices

CEO Change

Last week, the FMCG giant announced the appointment of Hein Schumacher as the successor of Alan Jope as chief executive from July 1 in a move that was welcomed by board member and activist shareholder Nelson Peltz.

Billionaire activist investor Nelson Peltz, who heads investor Trian Partners, said he strongly supports Hein "as our new CEO and look(s) forward to working closely with him to drive significant sustainable stakeholder value."

Schumacher, 51, joined Unilever in October last year as non-executive director and is currently the chief executive of Dutch dairy business FrieslandCampina.

ADVERTISEMENT

Read More: Why Hein Schumacher’s Appointment Makes Business Sense For Unilever: Analysis

News by Reuters, edited by ESM. For more A Brands news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.