Nestle to double investments in Brazil in 2022 as it expands output capacity
February 22, 2022
SAO PAULO (Reuters) – Nestle SA said on Tuesday it will almost double its investments in Brazil in 2022 from a year earlier as it builds a new pet food factory and looks to expand its overall industrial capacity in the country.
The annual investments are expected to reach more than 1.8 billion reais ($355.59 million), up from 939 million reais in 2021, Nestle told Reuters, adding that its new Purina plant in the southern state of Santa Catarina – which is already under construction – will get about 40% of the total amount.
($1 = 5.0620 reais)
(Reporting by Roberto Samora; Writing by Gabriel Araujo)