PepsiCo has announced plans to invest US$5bn in Mexico, which will include boosting production capacity for its beverage and food units.
//i2.aroq.com/1/pepsico.jpgThe company, which revealed the move late last week, said the investment will strengthen its business in one of Latin America's “most attractive markets”. Among the plans, PepsiCo said it will expand its range of products to “cater to the wide and evolving needs of Mexican consumers”.
As part of its plans, PepsiCo also said it will expand its production capacity by adding new manufacturing lines to meet “growing consumer demand” among the country's expanding middle class.
PepsiCo chairman & CEO Indra Nooyi said: “We're confident in Mexico's future and we believe this investment will create significant value for PepsiCo, our customers, our shareholders and for Mexico as a whole."
The capital injection is expected to create 4,000 new jobs “in the Mexican economy”, the group said.
Earlier this month, Mexico's Government introduced a new tax on "sugar-sweetened" beverages of MXN1 (US$0.08) per litre to tackle the country's obesity problems.
Sectors: Soft drinks
Companies: PepsiCo
