Nestle, "Establishing a Food Factory in Ukraine... Will Guarantee Jobs for Residents"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Hyunwoo Lee] Nestl?, the largest company by market capitalization in Switzerland and the world's largest food company, announced that it will establish a food factory in Ukraine to secure jobs for residents amid the ongoing war in Ukraine.

On the 14th (local time), according to major foreign media, Nestl?'s Southeast Europe Market Business Division decided to invest 40 million Swiss francs (approximately 55.7 billion KRW) to build a food factory in the Smolihyiv area of Volyn Oblast in northwestern Ukraine. This decision to make a new investment in Ukraine, where the war with Russia continues, is considered an unusual move.

Alessandro Zanelli, head of Nestl?'s Southeast Europe Market Business Division, stated in a press release, "This investment decision was made during a very difficult time for Ukraine as a nation and is very important for Nestl? as well," emphasizing, "It is to continue securing jobs for the people of Ukraine and to make Ukraine a production hub in Nestl?'s food and culinary product sectors."

Nestl? expects the new factory in the Smolihyiv area to create 1,500 jobs. The factory plans to produce sauces, seasonings, instant soups, and other products to supply both the Ukrainian and European markets.

Meanwhile, Nestl? currently operates offices and production facilities in Kyiv, the capital of Ukraine, and Lviv, a western city, with over 5,800 employees working at its local Ukrainian subsidiary.

This content was produced with the assistance of AI translation services.