Targeted company: Nestle headquarters in Vevey, Switzerland. After a busy year for activist investors targeting European companies such as Nestle SA, experts say firms are becoming more eager to address shareholder concerns before they escalate into public campaigns.
KUALA LUMPUR: The world’s largest food and beverage manufacturer Nestle, has today launched its Global Procurement Hub in Malaysia.
As a key Asian market for Nestle, Malaysia was selected to host one of the group’s three Global Procurement Hubs, known as Nestrade.
The Global Procurement Hub in Malaysia will source required ingredients, materials and services from around the world to supple the needs of over 100 countries globally.
Nestle S.A. executive vice president & head of operations Dr Magdi Batato said this new Global Procurement Hub will provide Nestle with enhanced strategic procurement support, delivering competitive and innovative solutions to help drive the group’s overall objective for sustainable growth.
“Given Malaysia’s proven track record of success, it is the ideal country for this hub, with all the right elements which will enable us to realise our vision to deliver procurement excellence for Nestle,” he said.
The Global Procurement Hubs will provide a wide range of services, including the management of global procurement for specific raw materials such as cocoa and coffee, packaging materials, services, as well as other procurement-related support for all markets.
The launch was officiated by Second Minister of International Trade and Industry Datuk Seri Ong Ka Chuan and Batato.
In his speech, Ong said: “As we move closer towards realising the objectives of the government’s Economic Transformation Programme, the government is firmly focused on its vision to position Malaysia as a preferred investment destination and among the most globally competitive trading nations by 2020.
“In line with this, it is heartening to note that a leading multinational company such as Nestle has selected Malaysia as one of its three sites across the world for its global procurement hub.
“This is indeed a good reflection of our nation’s potential.”
Nestle Malaysia is the largest Halal producer amongst other Nestle markets, exporting over 500 products to more than 50 countries, and is recognisable as the Halal Centre of Excellence for the group.
