Nestle to spend $1 bln on new factories in Mexico

LONDON Fri Jan 24, 2014 6:42am EST

LONDON Jan 24 (Reuters) - Nestle said on Friday it will invest $1 billion in Mexico over five years, building two new factories and developing a third in its sixth biggest market.

The world's No. 1 food maker said it will build a baby-food factory in Jalisco and a pet-food factory in Guanajuato as well as expanding an existing cereal factory there.

The investment would create 700 direct jobs, Nestle said. (Reporting by Martinne Geller; Editing by Louise Ireland)

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