By Mauro Orru 
 

Beiersdorf AG said Tuesday that it would invest 170 million euros ($202.6 million) over the next few years to build a new hub for the European market in the German city of Leipzig.

The German maker of Nivea skin cream said the new hub would be in the immediate vicinity of a new production plant, for which Beiersdorf previously earmarked an investment of EUR220 million.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

June 22, 2021 08:03 ET (12:03 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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