The Spanish water business of international food and drink giant Nestle, Nestle Waters Espana, is to invest €25m (US$27.52m) in Spain in 2003, the general director of the company, Gerard Signoret, was quoted in the Spanish press as saying.
The investment, which is double that of 2002, is to be directed at improving and renovating the company’s plants in Spain. There is also money set aside for building a new water bottling facility in the South West of the country.
The new plant will produce the company’s leading brand Nestle Aquarel, which saw its sales rise 46% year-on-year rise in 2002.
The plant will bottle 100 million litres of mineral water annually and will employ a staff of 70.
Nestle’s Spanish division posted a turnover of €57m for 2002, up 14% on the year before.