Nestle invests in Russian coffee facility
October 20, 2008
by Eric Schroeder
MOSCOW — Nestle said it plans to invest 240 million Swiss francs ($208 million) as part of an expansion of its coffee factory in Timashevsk, in the Russian Krasnodar region. The expansion will include the addition of new freeze dry technology.
"I am proud of this pioneering new investment that we have decided to make in Timashevsk," said Luis Cantarell, executive vice-president of Nestle. "It strengthens our leading position in the Russian coffee market and demonstrates our strong trust in the market's potential."
The Nestle coffee factory in Timashevsk was inaugurated in November 2005 and became the first full-cycle production facility for instant coffee in Russia. The factory produces Nescafe Classic soluble coffee, Nescafe coffee mixes and other Nescafe products. In 2007, the factory produced 27,000 tons of finished products.