HISTORY OF THE NESTLE COMPANY
Nestle had long recognised the need to diversify its operation beyond the Swiss frontier. Nestle strongly believe that a Nestle company in a foreign country can grow successfully only if there is a parallel growth in that country. It is with this spirit of partnership growth in that country. It is with this spirit of partnership and enterprise that Nestle arrived at the shores of Malaysia in 1912. The first Nestle Office was set up in Bishop Street, Penang. The company, then called Anglo-Swiss Condensed Milk Company, quickly made progress. In 1939, Nestle House was established in Kuala Lumpur as the headquarters to centralise nation-wide operations under one roof. With the objective of enlarging a market it had developed over half a century, Nestle through Food Specialities (Malaya) opened its first factory in Petaling Jaya in 1962. This factory locally manufactures sweetened condensed milk, tomato ketchup, chilli sauces and Milo, a chocolate-based beverage. Since then, more factories were set up to produce the varied Nestle products both for local and export markets. In addition to factories in 1987 , a fully automated Central Factory Warehouse was set up, probably the most modern in the region at the time. The Nestle Group began restructuring by forming a locally incorporated company, Nutritional Product Sdn Bhd in 1979 to take over the marketing activities of the group. The group was further restructured to be in line with the Malaysian New Economic Policy by increasing the Malaysian equity as required. A new holding company, Nestle Malaysia Sdn Bhd, was formed, which became the owner of Nestle’s manufacturing arm, Food Specialities Sdn Bhd and its trading arm, Nutritional Products Sdn Bhd. Both companies were subsequently renamed in the 1990 to Nestle Foods Sdn Bhd and Nestle Products Sdn Bhd in line with the worldwide mega branding of the Nestle name. In 1989, Nestle was listed in Kuala Lumpur Stock Exchange at an issue price of RM 5.20 each. On 2 May 1996 and 26 December 2000, the price of the share was RM21.00 each ( Nestle Internal Records and The Star, 30 Dec 2000). The impressive performance at the stock exchange is a reflection of the financial performance of the company, taking into account the crash of 1997 in most of East Asia region. Under the ASEAN Industrial Joint Venture project, Nestle Asean Sdn Bhd was set up. Its first factory commenced operations in 1994 producing Kit Kat and Smarties chocolates in October 1994, another company was incorporated, Nestle Cold Storage Storage Sdn Bhd, when Nestle SA entered into a join venture with Cold Storage Malaysia Berhad. This new company is the manufacturer and distributor of Nestle ice cream, pasteurised UHT and dairy products. The last take-over was in January 1996 when Nestle Food bought over the local ownership of a yoghurt company, Sunglo Natural Food Sdn Bhd (Nestle Internal Records).
BIRTH PLACE OF THE NESTLE COMPANY
The Nestle trademark was first a name is that of a man who lived during the nineteenth century in Vevey, a charming Swiss Township set on the shores of Lake Geneva. It was in 1866 that Henri Nestle, a chemist and inventor, achieved some dramatic results with a milk-based formula that had been given to a premature baby to help him recover to good health (Heer in 1991). From this early and modest beginning, Nestle has grown to be the largest food manufacturing company in the world, producing high quality products to suit the tastes and needs of the consumers all over the world. As at end of 2000, the company has a workforce of more than 230 000 people in more than 500 factories worldwide. MISSION AND VISION
Vision - To be a leading, competitive, Nutrition, Health and Wellness Company delivering improved shareholder value by being a preferred corporate citizen, preferred employer, preferred supplier selling preferred products. Mission – Nestle is the world's leading nutrition, health and...
Please join StudyMode to read the full document