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

06-22-21 0803ET