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BREAKING NEWS

BREAKING NEWS

Reckitt Benckiser to invest $200 million in UK, U.S. units this year

Reckitt Benckiser to invest $200 million in UK, U.S. units this year
FILE PHOTO: Rakesh Kapoor, the CEO of Reckitt Benckiser, poses for a photograph at the company headquarters in Slough, Britain August 14, 2017. Picture taken August 14, 2017. REUTERS/Martinne Geller -
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Martinne Geller(Reuters)
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By Siddharth Cavale

(Reuters) – Dettol and Lysol maker Reckitt Benckiser Group Plc will invest an additional $200 million in its UK and U.S. units this year, including a $70 million investment in a Michigan manufacturing facility.

Chief Executive Officer Rakesh Kapoor said the funds would be used to expand the company’s Michigan plant, which was bought as part of its takeover of Enfamil infant formula maker Mead Johnson Nutrition company for about $18 billion in 2017. He gave no further details.

Kapoor made his remarks at a breakfast event at St James’ Palace, the Queen’s official residence, attended by U.S. President Donald Trump and high level executives from 10 U.S. and British businesses.

The CEO, who will retire at the end of this year, said the company has made significant investments in both countries, creating high level scientific jobs. The company employs about 10 percent of its 40,000 workforce in the U.S. and the United Kingdom.

Kapoor said the Harpic maker was also working with UK and U.S. regulatory authorities to find ways to provide wider and easier access to healthcare.

The company is partnering with Walmart Inc and Health 4 All to offer telehealth vouchers to the U.S. retailer’s customers allowing them to get free consultations from home.

Reckitt Benckiser’s shares were flat in afternoon trading on the London Stock Exchange.

(Reporting by Siddharth Cavale in Bengaluru; Editing by Shailesh Kuber and Anil D’Silva)

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