and Israeli food manufacturer Osem are to invest NIS 100 million in establishing a global research and development snack facility. The new establishment will be built for Nestle, in the town of Sderot in southern Israel, says Osem CEO Dan Propper.
Nestle, which owns 50.1% of Osem will invest half of the funding in the R&D project.
reports that construction on the project has already begun, and that the facility should be up and running by the first quarter of 2002. The new plant will be located next to the Osem-Nestle snack factory in Sderot, and will be jointly managed by both firms.