Mexico: SCA to invest $31.5 million in 2014
Svenska Cellulosa Aktiebolaget (SCA), the Swedish manufacturer of paper products, is to invest $31.5 million in Mexico in 2014, El Universal reports. In an interview with the Mexican newspaper, Pablo Fuentes, CEO of Svenska Cellulosa Aktiebolaget in Latin-America, explained that the funds would be used to expand a factory in Ecatepec as well as boosting investment in innovation.
SCA has reportedly invested over $400 million in Mexico in the last five years. The country is desribed as one of SCA’s top 10 markets worldwide and the Mexican arm generates reveunes of M$6,000 million ($456 million) annually.
El Universal also reports that, at a time of economic difficulty, SCA has refocused innovation on launching smaller formats in an attempt to target less wealthy consumers and thus drive sales.
SCA owns brands like Regio, Saba and Tena has its headquarters in Stockholm. Its annual turnover is in the order of $13,900 million.
Source: El Universal