Argentina: Bimbo to invest $54 million
Mexican bakery firm Bimbo is looking to strengthen its operations in Latin America after announcing a new investment of $54 million in Argentina, according to a report in Revista Info Retail.
The company said the investment would be used to build a new factory and a distribution centre, both of which are to be located in the town of Malvinas Argentinas, in the province of Cordoba. The company will also expand production capacity at its existing plant in the province of Buenos Aires, according to the Argentine minister of industry Débora Giorgi.
In both projects in Cordoba, Bimbo will invest $46 million, while the remaining $8 million will be allocated to set-up high technology production lines for snacks, frozen foods and cereal bars in the plant that the company owns in Pilar, Buenos Aires.
According to Ms Giorgi, the investment will be made through Latinsur, a Bimbo group company that is present in five countries in South America.
Source: Revista Info Retail