Nestle SA (NESN.EB) said Thursday that it has invested 30 million Swiss francs ($30.8 million) in an infant-formula plant in Russia.
Nestle said the plant will be part of its existing Vologda site. The nutrition company added that the investment aligns with its aim of increasingly focusing spending on the high-growth food-and-beverage categories of coffee, petcare, infant nutrition and bottled water.
The Swiss company expects the factory to be operational by 2019 and hopes that it will strengthen Nestle's position in the Russian infant-formula market.
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(END) Dow Jones Newswires
October 12, 2017 09:25 ET (13:25 GMT)