US-based multinational Procter & Gamble has announced the investment of $50 million in production facilities and other projects in Argentina from 2016 to 2017.
In a statement, the firm said that the investment included the expansion of existing local operational capacity, as well as incorporating the latest technology into its Pampers line of nappies. Additional funds are earmarked for the Pantene brand in haircare, as well as razors through Gillette Prestobarba 2 and in feminine care with the production of Always sanitary towels.
P&G has been operating in Argentina for nearly 25 years, with 1,000 staff currently employed directly. In its latest financial statements, the firm reported that Argentina, together with other countries in the Latin America region, accounted for around 10% of its global net sales of $76.3 billion.
Source: Info Spots / Diario Las Americas / P&G