Nestle to build infant formula plant in Brazil as part of $393 million investment | WTAQ News Talk | 97.5 FM · 1360 AM
By Gabriel Araujo
SAO PAULO, Sept 3 (Reuters) – Nestle will invest 2 billion reais ($392.73 million) in its nutrition and health division in Brazil through 2028, including 600 million reais for a new infant formula factory in Minas Gerais state, the company said on Thursday.
• The nutrition and health allocation represents about 30% of the 7 billion reais Nestle has earmarked for Brazil between 2025 and 2028.
• The new factory in the city of Ituiutaba is set to begin construction in 2027 and begin operations from 2028.
• New plant will initially produce Nestogeno, Nestonutri, Ninho 1+ and Ninho 3+ infant formulas.
• Nestle said the facility would help increase supply to the Brazilian market, which is currently served in part through imports, and could create future export opportunities.
• “The Nutrition and Health business is among Nestle’s four strategic growth priorities globally and in Brazil. It encompasses some of the company’s highest-value categories,” Nestle Brasil CEO Marcelo Melchior said.
• In addition to new plant, Nestle plans to increase production at existing Aracatuba industrial complex in Sao Paulo state.($1 = 5.0925 reais)
(Reporting by Gabriel Araujo)