Nestlé to invest $60m to extend pizza factory in Germany
Swiss food company Nestlé is investing €45m ($60.73m) to extend its Wagner factory in Otzenhausen, Germany, in order to strengthen its pizza business.
The project will increase the production of Wagner branded frozen food products such as Big Pizza, Piccolinis and Die Backfrische.
It will boost the production from 70 million products to 350 million products annually. The plant will produce pizzas that have low fat and are lactose-free and organic.
Nestlé executive vice president Werner Bauer said the project will ensure that Wagner can meet increasing consumer demand for pizzas for years to come.
The new extension is expected to be fully operational in 2013.
In 2005, Nestlé entered into a joint venture with German pizza company Wagner, and in 2010, it increased its stake in the company to 74%.
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