Wal-Mart invests US$1.3 billion to improve logistics operations in Mexico
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Wal-Mart said it will invest US$1.3 billion to strengthen and expand its logistics network in Mexico. "With this, the company will not only be in a better position to supply its more than 2,300 stores in the country, but also help Mexican families save even more money," the company said. "A big portion of this investment will be made within the following three years to build distribution centers and enlarge existing ones, thus creating over 10,000 direct permanent jobs in the country." Guilherme Loureiro, president and chief executive of the company’s 71 percent owned joint venture in Mexico, Walmart de México y Centroamerica (Walmex), said the investment will be made throughout Mexico. “This investment will create jobs and benefit various industries, such as construction, transportation, and agricultural and livestock," he said. A Wal-Mart spokeswoman told Reuters the investment in Mexico will not result in any jobs being moved from the United States and is necessary for expansion of the company's Mexican business.