P&G commits R1,6bn for new factory
Procter & Gamble (P&G) is to invest around R1,6bn in SA by building a multi-category manufacturing plant for both the local and export markets.
The company's brands include Head & Shoulders‚ Pampers and Gillette.
"We aim to make SA P&G's manufacturing hub for the markets of southern and eastern Africa‚" Dimitri Panayotopoulos‚ the company's vice chairman in charge of global business units‚ said at a press conference held jointly with the Department of Trade and Industry on Friday, 15 March 2013.
Global brands are progressively looking to emerging markets and Africa presents a compelling investment case for retailers. The Economist Intelligence Unit predicts that by 2030‚ Africa's top 18 cities could have a combined spending power of US$1.3trn.
One of the main forces driving Africa's growth spurt is the increasing pace of urbanisation and consumerisation.
Construction of the new plant is expected to start next year with production scheduled to start in 2016 or early 2017.
In 2009‚ the company invested R500m in a manufacturing plant for Pampers nappies in Kempton Park that attracted investment of R6,6m from suppliers.
"Our global strategy is to maintain our strong momentum in developing markets‚" Panayotopoulos said. "The investment will create at least 500 jobs at P&G‚" he added.
Minister of Trade and Industry‚ Rob Davies‚ welcomed the announcement as "a further example of confidence by leading manufactures in the future of SA".
Source: I-Net Bridge
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