Swiss food group Nestlé is going to invest US$93.0 mill. in the construction of a Coffee-mate and Bear Brand powdered milk factory in the Philippines. Mr.John Miller, chairman and CEO for Nestlé Philippines, announced that the construction will start this month and is expected to be completed in March 2012, on Friday (2 July).

The new facility will employ around 170 staff in addition to generating jobs in other sectors that will provide the facility with raw materials and services.

In addition to the latest investment, Nestlé said it will continue to invest in its four existing factories in the Philippines, which produce brands including Nido, Nesvita, Bear Brand Choco, ice-cream and Nestlé breakfast cereals.

Source: company announcements and Reuters