Word: nestlã
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Summers, a co-chair for the annual meeting, was joined by Mukesh D. Ambani, chairman and managing director of India-based Reliance Industries; Peter Brabeck-Letmathe, chairman and chief executive officer of Nestl??© in Switzerland; Sir Martin Sorrell, group chief executive of WPP; and London Business School Dean Laura D. Tyson...
...Nestl??, with six of the top 10 brands and more than $2.2 billion in bottled-water sales, is the largest bottled-water company in the U.S., and it's at the center of a water war on several fronts. As owner of Poland Spring, which uses 500 million gallons of Maine water a year, Nestl?? could owe $96 million in tax each year if Wilfong's proposal is passed. "His mission is misguided," says Kim Jeffery, CEO of Nestl?? North America, which now pays only for the land where the springs are found. In response...
...Michigan, Nestl?? is facing environmental challenges. Michigan Citizens for Water Conservation has filed a civil lawsuit to stop Nestl?? from withdrawing 210 million gallons of water a year near the small town of Stanwood, arguing that groundwater levels are dropping dangerously; Nestl?? says they are healthy. The state legislature is considering 16 bills to set limits on withdrawals of groundwater. In a similar battle over Florida's springs, Nestl?? has so far prevailed...
Unilever, with about a 17% share of the global ice cream market, is facing increasing competition from Nestl??, whose share has risen from 10% to 11% since 2002. Nestl??'s Dreyers brand, acquired the next year, beat Unilever to the market with a light version made using a "slow churned" technique; Dreyers' U.S. sales of light ice cream have doubled since the switchover to the new process early in 2004. "We can't make it fast enough," says Nestl?? spokesman Robin Tickle. Unilever is playing up its own "double churned" technology, which, like Nestl??'s, blends ingredients slowly...
...Beginning with a spate of billion-dollar oil-company buyouts in 1981, the merger wave has rolled over virtually every industry. This year alone, acquisitions have produced the largest U.S. gas distributor (Internorth-Houston Natural Gas), a medical giant (Baxter Travenol-American Hospital Supply), a vast food-processing concern (Nestl??-Carnation) and one of the mightiest high-technology combinations (Allied-Signal). Last week even brought a proposed sports marriage between the New Jersey Generals and the Houston Gamblers of the U.S. Football League. The number of megadeals this year could wind up challenging the pace of 1984, when companies made...