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MANILA, Philippines (AFP) — Swiss food giant Nestle said Tuesday it would spend two billion pesos ($43 million) in the Philippines on a plant to produce a key ingredient for its Milo beverage. Nestle Philippines chairman Jacques Reber said the plant, due to be completed in October 2017, would produce a malt extract currently imported from Singapore. Eventually the new plant will provide the local supply, possibly using Philippine-grown cassava which in turn will help […]
ZURICH, Switzerland (AFP) – Analysts on Tuesday praised Nestle’s choice for its new chief executive, healthcare executive Ulf Mark Schneider, as the food giant took a further step in its bid to become a leader in nutrition. Schneider, 50, will take over on January 1, replacing outgoing chief Paul Bulcke who has been nominated to become the company’s chairman. In tapping Schneider for the post, Nestle bucked its near century-long track-record of picking in-house candidates as chief executives. […]
ABIDJAN, Ivory Cost (AFP) — Swiss company Nestle will offer on-the-job training for 300,000 African youths to offset high unemployment that poses “severe economic and social challenges” for the continent, the company announced Tuesday. “We’re going to create more than 3,000 internships and apprenticeships in African countries by the end of 2018,” said chief executive officer Paul Bulcke during an economic conference in Ivory Coast’s capital. “During the same period, we will offer qualified work […]
ZURICH Sat Feb 8, 2014 12:10pm EST (Reuters) – Nestle, the world’s biggest food company, is looking at ways to reduce its $30 billion stake in cosmetics firm L’Oreal , Bloomberg reported on Saturday, citing sources with knowledge of the matter. Nestle has told L’Oreal of its intentions, and the two companies have discussed the issue with banks, though no decision over the possible timing of any sale, which could take years, has been made, […]
