Wal-Mart de Mexico (Walmex) has announced that it will put into operation a record investment plan this year as it looks to increase its presence further in the country.
According to the group, it plans to spend some 12.5bn pesos (US$975m) on 300 new outlets this year, including self-service Bodega Aurrera, Walmart and Superama stores, Sam's Club price clubs, Suburbia apparel stores, and Vips restaurants.
The planned investment will create around 7,000 new permanent jobs, plus an additional 7,800 indirect jobs in order to build the new stores, Walmex said.
'I'm pleased that in the bicentennial year we are doing our share for Mexico by making the largest investment in the company's history: 12.5bn pesos,' said Scot Rank, executive president and CEO for Walmart de México y Centroamérica. 'In 2010 company performances will combine the growth of our traditional business formats with the drive of three of our most recent platforms: Bodega Aurrera Express, Banco Walmart, and the Merger with Walmart Centroamérica operations.
'In addition to the new units we are allocating over 1bn pesos to update our distribution and logistics network, and will increase the budget to remodel our exiting units by 21 per cent,' Mr Rank added. 'These are excellent news for our associates, customers, suppliers, shareholders and the communities were we operate.'
