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Nestle to invest almost $250 million in Brazil over the next 3 years

Wed, 21st Aug 2019 15:26

By Gabriela Mello

SAO PAULO, Aug 21 (Reuters) - Nestle SA said onWednesday it will invest 1 billion reais (about $250 million) inBrazil's Sao Paulo state over the next three years to introducenew production lines and technologies in existing factories, aswell as push forward a digital transformation.

The announcement comes as the Sao Paulo Governor João Dória,strives to draw investments to the state and boost industrialjobs in Brazil's historic manufacturing center. On Aug. 9, heunveiled during a trip to China that Huawei Technologies Co Ltdwould invest $800 million to build a second plant inSao Paulo.

"Sao Paulo state is greatly important to our story, as ithosted our very first factory (in Brazil)," Chief Executive forNestle Brasil Marcelo Melchior said in a statement.

Nestle, the world's largest food producer, employs 12,000people directly and, the company said, more than 100,000indirectly in Sao Paulo only. Over the last five years, itsBrazilian subsidiary invested 2 billion reais in the state,according to the statement.

($1 = 4.0251 reais)(Reporting by Gabriela Mello; Editing by Steve Orlofsky)

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