February 23, 2018 / 5:30 PM / a year ago

Mexico's Bimbo sees cash boost from U.S. tax reform, pledges more investment

MEXICO CITY, Feb 23 (Reuters) - Mexican breadmaker Bimbo on Friday said it expects a positive impact on its cash flow due to a recently approved tax reform in the United States, one of its principal markets, and will invest $800 million this year.

The day after the company reported a fourth quarter net profit, Daniel Servitje, Bimbo's chief executive, said in a call with analysts that the company would invest slightly more than the $750 million it had previously projected. The money would largely be spent on quickening the pace of integration for its recent acquisitions. (Reporting by Daina Beth Solomon and Sheky Espejo; Editing by Gabriel Stargardter)

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