Swiss food giant Nestlé has said its cost saving programmes are on track and its integration of petfood company Ralston Purina is proceeding faster than expected.
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Chief financial officer Wolfgang Reichenberger said the company’s GLOBE savings programme is on track, reported Reuters. The company plans to save more than CHF6bn (US$4.8bn) from various cost saving programmes by 2006.
Nestlé also said half the cost savings from its acquisition of Dreyer’s Ice Cream have been realised, and the other half are on track.
The company said it has no plans for a major acquisition at the moment as it already has leading market shares in some of its main product areas, such as water and ice cream.
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By GlobalData
