ITALY: Parmalat is to invest an initial 200-billion lire in bottled water
Italian food and dairy multinational, Parmalat is to invest an initial 200-billion lire to re-enter the lucrative international bottled water sector. A decade ago, Parmalat pulled out of the mineral water business after its Monte Bianco line failed to show any profit. But times have changed and the sector is now booming and according to a new report by Mineracqua, the National Association of Mineral Water, consumption in 2000 stood at 160 litres per capita and volume was at 9.5 billion litres, up 4% over 1999.
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