Nestle invests US$54m in Cuban factory
30 Nov 2017 --- Nestlé has started construction on a new factory in Cuba, to meet growing consumer demand and strengthen its presence on the Caribbean island. Nestlé is investing CHF 54 million (US$54.7million) in the factory, which will employ 260 people by its third year.
It says the site will produce leading coffee brand Nescafé, the local Cuban roast & ground coffee Serrano, Nestlé Fitness cereal-based snacks, the Nesquik powdered beverage, as well as Maggi cooking aids.
The plant is a joint venture between Nestlé and Cuban food enterprise Corporación Alimentaria, S.A. (Coralsa).
Yearly production capacity is expected to be more than 18,500 tons, for both local consumption and export. Operations are expected to start in January 2020.
The investment will help meet growing consumer demand in Cuba and strengthen Nestlé’s presence in the region. Nestlé has been present in Cuba since 1908. It operates two factories there with Coralsa, producing mineral water, carbonated soft drinks and ice cream.
