Unilever Jumps Back In To Cuba

Unilever NV said it has obtained approval from the Cuban government to set up a joint venture with state-owned detergent company Suchel. With plans to invest $35 million in the venture, Unilever-Suchel S.A., the Netherlands-based consumer goods giant plans to build a factory in the country’s Mariel Special Development Zone. Unilever’s previous attempt to enter the Cuban market failed in 2012, when the company withdrew from a joint venture with Suchel. Netherlands’ political deal with Cuba in January 2014 made the company’s return to the market possible.