Unilever (UL) will invest 30 billion Mexican pesos ($1.53 billion) in Mexico between 2025 and 2028 to increase its production capacity, including 8 billion pesos for a new factory in Nuevo Leon, Reuters reported Friday, citing a company statement.
The new plant will focus on producing beauty and personal care products.
The company expects the full investment to generate around 1,200 new jobs, according to the media outlet.
Unilever did not immediately respond to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Price: 63.33, Change: +0.34, Percent Change: +0.54
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.