Nestle to invest $212 mln in Russian factory

Company will spend $211.6 million on expanding its instant coffee factory in Russia’s southern region of Kuban, a Nestle executive said on Monday.

 Luis Cantarell, executive vice
president of the Swiss-based food company, said his company hopes to
launch the new plant in the Q1 of 2011. He also said the financial
crisis has not affected Nestle’s plans in Russia, where the company
operates 13 factories. “The current situation has not changed our
intention to move forward. We believe in the Russian economy…”
Cantarell told reporters. Nestle Kuban produced around 28,000 tons of
instant coffee products last year.