MEXICO CITY – The world's largest breadmaker, Mexico's Grupo Bimbo, said it plans to almost double investment spending this year to make its manufacturing more efficient.
The company plans to invest $780 million, compared with $400 million in 2011, executives said on a conference call Thursday discussing Bimbo's quarterly results.
"The capex budget for Grupo Bimbo is the largest in our history," Chief Executive Daniel Servitje said. "Much of that will be allocated to the manufacturing base, but also investments in logistics and systems will happen across the board."
Investment will likely be between $600 million and $800 million annually for the next three to four years, executives said.
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