Nestle investing $43 mln in expansion of production in Ukraine

MOSCOW. Dec 13 (Interfax) - Switzerland's Nestle, a global leader in the production of food products and beverages, is opening a new production facility in Ukraine's Volyn region, with investments in expanding production of vermicelli and other food products reaching 40 million Swiss francs, or around $42.9 million at the current exchange rate.

The new facility will become a regional hub for the company along with the Nestle facility in Torchyn in the Volyn region, Ukrainian media reported citing the company statement on social media. The products produced will be sold in Ukraine and supplied to European markets.

"We aim to create a food and culinary hub, ensuring incremental jobs and serving the needs of Ukrainians and all European citizens with high quality products," Nestle South Eastern Europe CEO Alessandro Zanelli was quoted as saying in the statement.

Nestle is one of the largest producers of food products in the world. The company's portfolio encompasses over 2,000 brands, including Nestle, Nescafe, Nesquik, Nestea, Movenpick, KitKat, Gerber, Maggi, Perrier, S.Pellegrino, Purina, and Friskies, which are sold in almost 190 countries.

Nestle began operating in Ukraine in 1994 with the opening of a representative office. Nestle in Ukraine comprises the Svitoch confectionary factory in Lvov, Nestle Ukraine LLC, Volyn Holding (TM Torchin), and Technocom LLC (TM Mivina). Nestle in Ukraine produces coffee and beverages, confectionaries, and culinary products, including cold sauces, condiments, soups, instant food, baby and specialty foods, ready-made breakfasts and ice cream, and pet food.