The Mexican canning company La Costeña will invest at least 20% of its sales amounting to about USD$800 million —as the company never discloses exact figures— to modernize and expand the brand in different markets on an international scale in 2018, disclosed Rafael Celorio CEO of the company .
"The reinvestment will focus mainly in Mexico , but it should be noted that we have a strong investment strategy in the United States, since we have plants in Arizona and in Minnesota , along with another plant in Santiago , Chile ," said Rafael Celorio.
On a press conference on the occasion of the 95th anniversary of La Costeña, Rafael Celorio mentioned that the company expects a 10% income growth this year, despite Mexico's upcoming General Election and the uncertainty generated by the renegotiation of the North American Free Trade Agreement ( NAFTA ).
"La Costeña is an international company present in Mexico, the United States, and 50 other countries. The Mexican market represents 85% of our sales while the rest of the countries 15% of which the U.S. market represents 80% alone," he assured, adding that 2017 was the best year for innovations in their market.
La Costeña has a production linked to products from the Mexican countryside , yet the company also depends on imports.
"The United States is growing, thus we expect a lot of the country's market, plus we are proud to be a 100% Mexican company that is beginning to lead different markets," concluded Rafael Celorio.
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