- The FMCG major intends to improve its ability to supply both domestic and foreign markets.
- A portion of the investment will be used to fund employee training and the development of new products.
Unilever plc has announced that its plants in Tultitlan and Lerma, which are situated in Mexico's northeast and southeast areas, respectively, will receive USD 275.6 million to upgrade their infrastructure, purchase new machinery, and acquire newer technologies that will optimize their use of water and energy.
The FMCG major intends to improve its ability to supply both domestic and foreign markets, with the project expected to be completed by the end of 2024.
With this project coming to light, it is expected to generate 2400 employment opportunities and boost local talent. According to Unilever, a portion of the investment will be used to fund employee training and the development of new products.
The General Manager of Unilever Mexico Lourdes Castañeda Cañas mentioned that as part of its growth strategy in the country, the new funds will also be utilized to create fresh and healthy food recipes. The concept will help regional manufacturers expand their reach through distribution channels thereby utilizing the state's logistical advantages.
For the unversed, the two factories are known to produce a variety of goods, including foods marketed under the Knorr, Best Foods, Hellmann's, Maizena brands, and the famous Wall's Helados Holanda ice cream chain. Furthermore, the facilities also cater to the company's food service clients and export to countries like Brazil, Colombia, and Ecuador, while expanding its reach to the Caribbean, the U.S., and Canada.
Although Unilever has been active in Mexico since the 1960s, it hasn’t provided country-specific sales data. However, based on the important underlying sales growth (USG) statistic, the company's recent results released in July showed that turnover in developing countries increased 10% to USD 17.2 billion.