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The company stock is listed on the SWX Swiss Exchange . Some of Nestlé's business practices have been considered controversial, especially the manner in which baby milk has been marketed in Developing Countries , which led to the Nestlé Boycott . PRONUNCIATION Some people in the English -speaking countries pronounce ''Nestlé's'' , as in the English Verb ''nestle''. This was the pronunciation used in company merchandising for much of the 20th century, e.g. Nestlé's Milkybar . Other common pronunciations of ''Nestlé'' among English-speakers are and , or in Australia. However, the brand is derived from the founder's family name from the French-speaking part of Switzerland, where Nestlé is properly pronounced . INTERNATIONAL NAMES - (què cháo) HISTORY Nestlé was founded in 1860. In the 1860s Henri Nestlé , a Pharmacist , developed a food for babies whose mothers were unable to breastfeed. His first success was a premature infant who could not tolerate his own mother's milk nor any of the usual substitutes. The value of the new product was quickly recognized when his new formula saved the child's life, and soon, ''Farine Lactée Henri Nestlé'' was being sold in much of Europe . In 1905 Nestlé merged with the Anglo-Swiss Condensed Milk Company. By the early 1900s, the company was operating factories in the United States , United Kingdom , Germany and Spain . World War I created new demand for dairy products in the form of government contracts. By the end of the war, Nestlé's production more than doubled. The first Nestlé factory to begin production in the United States was opened in Fulton, Oswego County, New York . The factory however was closed in 2001, after the company decided that the cost of restoring, and updating the factory was not worth the effort. Employees of the factory were furious, and raised the company flag upside down the day the closing was announced. After the war, government contracts dried up and consumers switched back to fresh milk. However, Nestlé's management responded quickly, streamlining operations and reducing debt. The 1920s saw Nestlé's first expansion into new products, with Chocolate the company's second most important activity. Nestlé felt the effects of World War II immediately. Profits dropped from US$ 20 million in 1938 to US$6 million in 1939. Factories were established in developing countries, particularly Latin America . Ironically, the war helped with the introduction of the company's newest product, Nescafé , which was a staple drink of the US military. Nestlé's production and sales rose in the wartime economy. The end of World War II was the beginning of a dynamic phase for Nestlé. Growth accelerated and companies were acquired. In 1947 came the merger with Maggi seasonings and soups. Crosse & Blackwell followed in 1950, as did Findus (1963), Libby's (1971) and Stouffer's (1973). Diversification came with a shareholding in L'Oréal in 1974. In 1977, Nestlé made its second venture outside the food industry by acquiring Alcon Laboratories Inc. ian president, Lula Da Silva , inaugurates a factory in Feira De Santana ( Bahia ), February, 2007.]] In 1984, Nestlé's improved bottom line allowed the company to launch a new round of acquisitions, notably American food giant Carnation and the British confectionery company Rowntree Mackintosh in 1988. PRODUCTS Nestlé has a wide range of products across a number of markets including Coffee ('' Nescafé ''), Water , other Beverages , Ice Cream , Infant Foods , Performance and healthcare nutrition, seasonings, frozen and refrigerated foods, Confectionery and Pet Food . For a list of some of these brands, see List Of Nestlé Brands . BUSINESS Management The executive board, a distinct entity from the Board Of Directors , includes:
Current members of the board of directors of Nestlé are: Günter Blobel , Peter Böckli , Daniel Borel , Peter Brabeck-Letmathe , Edward George , Rolf Hänggi , Nobuyuki Idei , Andreas Koopmann , André Kudelski , Jean Pierre Meyers , Carolina Müller-Möhl , Kaspar Villiger . Secretary to the Board Bernard Daniel . Earnings In 2003, consolidated sales were CHF 87.979 billion and net profit was CHF6.213 billion. Research And Development investment was CHF1.205 billion.
Joint ventures Nestlé holds 26.4% of the shares of L'Oréal , the world's leading company in Cosmetics and Beauty . The ''Laboratoires Inneov'' is a Joint Venture in nutritional cosmetics between Nestlé and L'Oréal, and ''Galderma'' a joint venture in dermatology with L'Oréal. Others include Cereal Partners Worldwide with General Mills , Beverage Partners Worldwide with Coca-Cola , and Dairy Partners Americas with Fonterra . CONTROVERSY AND CRITICISM Some of Nestlé's business practices have been controversial, especially the manner in which baby formula has been marketed in Developing Countries . The controversy ultimately led to the widespread Nestlé Boycott , starting in 1977. Nestlé has since launched several Fairtrade products across the world, including Partners Blend in the UK5 and several grind-at-home Fairtrade coffees in Sweden, which led to a new round of criticism. Baby milk marketing See Also: Nestlé boycott International Code of Marketing of Breast-milk Substitutes Post 2004 allegations of breaches of the International Code continue to be made by campaign organisations, such as IBFAN and the Save the Children Fund (May 2007) and ''The Guardian'' newspaper. |
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