Nestlé has announced plans to invest CHF 40 million (approx. $42.7 million) into a new production site in Smolyhiv, in the Volyn region of western Ukraine.
The company’s Torchyn factory and Volyn Production Network will together comprise Nestlé’s European regional hub for food and culinary products, employing around 1,500 people and supplying markets across the continent. The rare wartime investment in Smolyhiv is aimed at increasing the capacity of noodles culinary production in Ukraine.
In a statement, Nestlé said it “is the first multinational company… [to announce] new investments to take concrete steps to ensure progressive development in Ukraine”. The expansion is set to provide new job opportunities and support the growth of the Ukrainian economy.
Nestlé’s CEO of the southeastern Europe market, Alessandro Zanelli, said: “I am proud to confirm our commitment to invest in Ukraine. This is an important move for Nestlé, taken in a very challenging time for the country. We aim to create a food and culinary hub, ensuring incremental jobs and serving the needs of Ukrainians and all European citizens with high-quality products.”
Since the beginning of the invasion, Nestlé has provided humanitarian aid to Ukrainians, including donating more than 4,000 tons of products to those affected.
By Phoebe Fraser
Source: foodbev.com
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