UKRAINE: Nestle to invest in development of Ukraine facility | Progresiv

Nestle is planning to invest more than 4.5 million dollars in the development of its facility in Ukraine this year. The investment will entail installation of a production line at Torchyn factory. The company recently has also installed new air conditioning equipment at its distribution centre in Smolyhiv, reported Interfax-Ukraine.

According to Nestle Ukraine director Moldova Ansgar Bornemann, the company's total sales in Ukraine amounted to (250 million dollars).

Bornemann was quoted by Interfax-Ukraine as saying: "For us sales are stable in general, which is the result of the fantastic work of all our employees.

Bornemann added that Russian sanctions have affected the company's sales in the confectionery and canned vegetables segments. In July, there were speculations that the Swiss food company had plans to acquire Roshen Confectionery Corporation, which is owned by Ukrainian President Petro Poroshenko. This confectionery firm produces 450,000 tons of products annually, making it one of the leading firms in Ukraine.

Nestle had been the only potential buyer to show interest in the confectionery firm.

Separately, Nestle is preparing to relaunch Maggi noodles in the Indian market by the end of this year. This comes after the Bombay High Court lifted the ban on the noodles last month and directed new tests within six weeks to check compliance with the country's food safety standards. (www.food-business-review.com)