Danone plans to invest US$700M in Russia over next five-to-seven years to increase capacity in emerging market, says company's president of Russian business
March 26, 2012
– The president of Danone’s Russian business, Filip Kegels, said the company plans to invests US$700 million over the next five-to-seven years to increase capacity in the emerging market, Reuters reported March 26.
Speaking at a press conference, Kegels said Danone sees great potential in the region in as milk and dairy consumption significantly lags compared with the rest of Europe.
Last year, Danone invested $125 million in Russia, according to a company statement.
The primary source of this article is Reuters, London, England, on March 26, 2012.