Nestlé invests CHF 160m and creates 500 new jobs in Egypt
Posted: 18 January 2011 | Nestlé S.A. | No comments yet
Nestlé will invest CHF 160 million in its existing factories and distribution centres in Egypt, creating 500 new jobs in addition to its 3,000-strong workforce…
Nestlé will invest CHF 160 million in its existing factories and distribution centres in Egypt, creating 500 new jobs in addition to its 3,000-strong workforce...
Nestlé will invest CHF 160 million in its existing factories and distribution centres in Egypt, creating 500 new jobs in addition to its 3,000-strong workforce.
The three-year investment, announced today at a press conference in Cairo, follows investments totalling CHF 170 million in Egypt over the last ten years.
The focus will be on increasing production in Egypt, home to Nestlé’s only facility outside Europe for the production of Mövenpick super premium ice cream, and a manufacturing base for products such as Cerelac infant cereal and Maggi soups and bouillons.
Frits van Dijk, Nestlé Executive Vice President and Zone Director for Asia, Oceania, Africa and Middle East, outlined the strong potential for growth.
He said: “We are convinced that our business in Egypt will continue to benefit from the diversity and dynamism of the local population, along with the favourable demographic and economic growth trends. I am very optimistic about the opportunities here.”
As Nestlé continues to expand its business in emerging markets, Mr van Dijk confirmed that the Company’s Popularly Positioned Products (PPP) model would be an important growth driver in the region.
Targeted at emerging consumers – many of whom are entering the cash economy and buying branded goods for the first time – Nestlé’s PPPs are adapted to meet their needs in terms of price, accessibility and format, such as single serve packs.
Mr van Dijk also revealed plans to double Nestlé’s coffee machine vending business in Egypt this year, as food service industry arm Nestlé Professional goes from strength-to-strength.
He concluded: “More people are consuming ‘on the go’ and so out-of-home consumption is increasing dramatically. We are satisfying the needs of the consumers from all walks of life, from emerging consumers to those looking for premium products.”
Nestlé has been present in Africa for more than 130 years. It currently operates 24 factories on the continent and provides direct employment to approximately 29,000 people. Present in North East Africa for more than 70 years, the Company’s direct operations and activities in the region began in Egypt in 1988.