Oct 12, 2008

Nestle S.A. board visits India

29 Sep 2008 | 10:23

The board of directors of Nestle S.A. along with the executive board of Nestle S.A. convened in New Delhi for the first ever board meeting in India. The board members took the opportunity to familiarise themselves with the Indian market and Nestle India operations. During a visit to the factory in Moga and the milk district, where Nestle India has pioneered dairy farming into a flourishing activity, they met milk farmers and appreciated the work Nestle India is doing to promote best practices in dairy, water conservation and community development.
The group continues its ongoing strategic transformation into the leading nutrition, health and wellness company. It continuously leverages science to innovate and renovate and develop products that add value to the consumers. Nestle India is following the same strategy. In the next decade larger number of consumers in developing countries are expected to be able to consume Nestle products for the first time. It is estimated that almost one billion new consumers would be added and developing countries that currently account for a third of Nestle S.A. business would grow to about 45%.

Nestle S.A. management expressed satisfaction at the impressive growth of Nestle India in recent years and the high quality of talent available at all levels. It would support India growth plans and higher investments, that are strategically and economically sound. Nestle India is estimated to invest upto Rs 300 crore in the current year which could go upto Rs 600 crore in the next year, subject to financial evaluation. Expansion of out of home business was outlined as a growth area, particularly in the area of providing beverage solutions.

Nestle S.A. considers efficient usage of water as a priority for long term sustainability. Nestle India is also actively implementing initiatives to train farmers and village school children on water conservation while increasing efficiency of water usage in its operations. During the last ten years Nestle India has reduced water consumption per ton of product manufactured by 63%.

Nestle India recorded total net sales of Rs 3,504 crore in 2007 and for the first half year ended June 30, 2008 total net sales were Rs 2,126 crore, showing a growth of 25% over the same period last year.

The company made this announcement during the trading hours today, 29 September 2008.