Nestle reaffirms Egyptian investment
30 May 2012 – Nestlé is celebrating over 100 years in Egypt by reaffirming a four year CHF151 million (€125.7m) investment plan in the country, creating jobs and enabling the company to better serve local consumers.
The investment programme announced in 2011, focuses on the company’s existing factories and distribution centres, including a facility for the production of Mövenpick super premium ice cream. The programme reflects confidence in the future prospects of a market where Nestlé has been present since the early years of the last century.
Around 200 jobs have been created as a result of the first tranche of investment worth more than CHF75m (€62.4m).
The company will invest the remaining CHF75m (€62.4m) as planned and create more than 300 new jobs by 2014.
“We believe that our long term presence in this region – in more stable and in more challenging times – and our many investments and initiatives are a clear illustration of our commitment to this country and this region,” says Paul Bulcke, chief executive officer for Nestlé.
“These investments will allow us to serve more consumers even better, and to better adapt our products to their needs and aspirations.
“That is why we have invested, and continue to invest, heavily in this country,” he added.
Nestlé Egypt is also continuing to support local communities through its initiatives and programmes.
The company signed a five year partnership with the Ministry of Education to roll out its Abnaa Asehaa project nationally, which is part of its Healthy Kids Global Programme.
The project is helping to raise nutrition, health and wellness awareness through nutrition education and physical activity to over 500,000 children in more than 750 schools in Egypt.