Nestle SA announced that it will build two new factories in Mexico and invest $1 billion in the country over five years. The company said that it will build an infant nutrition factory in Ocotlan, in western Jalisco state, and a pet food facility in Silao in the central state of Guanajuato. The company said that it also will expand and upgrade a cereal factory in Lagos de Moreno, also located in Guanajuato state.

The investment will lead directly to the creation of 700 jobs.