05 September 2012

Procter & Gamble to invest 557 million pesos and generate 400 new jobs in Argentina

Buenos Aires - 05 September 2012 - The president of Argentina, Cristina Fernandez de Kirchner, accompanied by Minister of Industry, Debora Giorgi, welcomed executives from Procter & Gamble (P & G)-company-origin producer of consumer goods mass-who announced investments for total of 557 million pesos (approx. US$120 million). 

This investment will increase the production capacity of the plants that the firm has in the country and the manufacture of new product lines. He said that will generate 400 new jobs and improve the trade balance by about $ 150 million annually. 

264 million pesos will be allocated to the project of Pampers diapers, which will be applied to bring technological improvements to global standards, enabling export to anywhere in the world. To carry out the plan, 82 new jobs will be generated. 

Meanwhile, for the production of soaps and detergents powder will invest 40 million for technology improvements and construction of a new packaging line. The investment will create 102 jobs. 

There will also be investment in pet food brand Eukanuba (46 million to increase the capacity of a new filling and packaging line) hair care products ( 119 million to produce machinery locally with national origin and export to Latin America ) and the expansion of the distribution center located in Pilar (87 million to generate over 18,000 square meters). These investments, together, will generate 228 new jobs. 

P&G is one of the largest consumer goods companies in the world. It currently has more than 140 plants in 80 countries and employs over 127,000 workers worldwide. 

P & G in Argentina directly employs over 1,200 people and indirectly more than 3,300. 

Source: Ministry of Industry Argentina (Translated from Spanish)