By Amy R. Remo
Consumer goods giant Nestlé Philippines will embark on an expansion program to double the size of its existing factory in Tanauan, Batangas, making it one of the largest production facilities of its parent firm, Nestlé SA, in the world.
Swiss food and drinks giant Nestle SA posted a 3.7 percent rise in first-half profits and strong sales Thursday, despite what it described as the challenges of slowing markets and “value-conscious” consumers.
Swiss-based global food giant Nestle said Wednesday that it had expanded its research and development operations in Singapore, amid robust Asian market growth.
Swiss-based food giant Nestle warned Thursday that business was likely to be tough this year, after its 2012 results showed a slowdown in growth in emerging markets.
Nestle SA, the world’s biggest food and drinks maker, overcame tough global economic conditions to post a full-year net profit of 10.6 billion Swiss francs ($11.55 billion) for 2012, but predicted another challenging year ahead, the company said in a statement.