To Press Releases listVevey,October 15, 1999
In line with its strategic policy of concentrating on higher value-added businesses, the Nestlé Group announces the sale of two cocoa-processing operations, one in Italy and the other one in Malaysia. In Italy, the Intra industrial chocolate factory will be sold to Barry-Callebaut, one of the leading international players in the cocoa-processing industry. The Intra staff of about 100 will transfer to the new owner. Nestlé Italiana and a number of other European Nestlé companies will continue to source most of their needs from Intra and no disruption of production is foreseen.
In Malaysia, Nestlé sold its minority stake in a cocoa-processing joint-venture earlier this year to the Malaysia Federal Land Development Agency. This joint-venture operates a processing facility south of Kuala Lumpur.
These transactions, together with the recent closures of the cocoa-processing operations in Colombia and in Peru, confirm the Group's policy to concentrate its activities on its core branded confectionery business and to source the necessary raw materials progressively from the specialised industry.