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

By Reuters
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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.


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.


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

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