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

Nevin Barich

LOS ANGELES , March 26, 2012 (Industry Intelligence) – 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.

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