Thursday, February 3, 2011

More Jobs Gone Overseas

   Yes the stock market is up, and yes, the growth is not in this country but overseas.  I guess to some companies it does not matter where the growth is as long as there is growth.  Do you think it is less expensive to do business in Africa than it is in this country?  We have consumers here also but what we need is jobs for them to work at that pay more than minimum wage.

Nestle Opens Plant in Nigeria

Nestle on Feb. 3 opened an $80 million factory in Nigeria, Africa's most populous nation, in an expansion drive targeting the world's emerging markets. Africa brings in 3% of the Switzerland-based multinational's sales and plans are to double that by the turn of the decade."A big part of our growth will obviously come from emerging markets," said Nestle Group's CEO Paul Bulcke. "Africa has so many emerging consumers." Africa's population, already 15% of the world's total, is projected to grow by 50% by the year 2030.Nigerian Vice President Namadi Sambo attended the ceremony to open the factory that will employ 180 people. The new factory located inNigeria's southwestern Ogun State is dedicated to the production of flavor-enhancing seasoning added to nearly all stews in Nigeria and many parts of West Africa.

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