Breaking News

NestlŽ Wants to Use Free Cash to Cut Debt

January 7, 2004

NestlŽ, Vevey, Switzerland, wants to use its free cash flow to cut debt and is looking to expand its nutrition business, finance chief Wolfgang Reichenberger told a Swiss newspaper on Wednesday.

"Mid-year our debt stood at 21 billion francs...The triple A (credit) rating is important for us," Reichenberger was quoted as saying in an interview with the Finanz und Wirtschaft newspaper. "We have signaled to the rating agencies that we are cutting our debt."

Mr. Reichenberger said the group was looking to expand its nutrition business by forming new partnerships. "This is a comparatively small, but very fast growing and profitable business," Mr. Reichenberger said. "We do not primarily aim to make acquisitions," he added.

NestlŽ already has partnership deals with firms such as toothpaste maker Colgate and U.S. beverage giant Coca-Cola.
blog comments powered by Disqus
  • What’s New at La Prairie?

    What’s New at La Prairie?

    Melissa Meisel, Associate Editor||April 25, 2016
    VP of marketing shares the latest buzz with Happi.

  • Mapping Out Multicultural Beauty

    Mapping Out Multicultural Beauty

    April 25, 2016
    Agnieszka Saintemarie of Kline Group about current trends and challenges in multicultural beauty.

  • At a Loss for Curls?

    April 22, 2016
    Amplixin, a Miami-based maker of hair strengthening products, has a solution for hair loss.

  • Who Makes That?

    Who Makes That?

    Tom Branna, Editorial Director||April 1, 2016
    From concept and formulation to testing and filling, today’s contract manufacturers perform a range of services for marketers

  • Multi-Cultural Beauty Update

    Multi-Cultural Beauty Update

    Christine Esposito, Associate Editor||April 1, 2016
    Established brands and start-ups address the needs of multi-cultural beauty consumers.

  • The Scalp Microbiome

    The Scalp Microbiome

    Nava Dayan PhD, Dr. Nava Dayan LLC||April 1, 2016
    A review of recent findings and innovative approaches for treating scalp disorders.