SWIZERLAND: Nestle ready for Coke's attack
Nestle is prepared for a "good fight" with Coca Cola in the bottled water arena. Speaking at the company's results news conference yesterday, Nestle Waters chairman Frits van Dijk said: We are well-prepared; we know their strengths and weaknesses, and I am sure we will be able to give them a good fight."
Coca Cola's Dasani brand grew by 16% last year, while Nestle Waters' brands, including Perrier and Vittel, increased by 9.1% in 2003. Dasani is now the second-biggest selling water in the US.
"Them (Coca Cola) entering the market is very good; it will contribute to the total growth of the market," van Dijk added.
Nestle announced yesterday that it had met its own targets for 2003, with a 5.1% increase in underlying sales. Net profit dropped by 18% to 6.21 billion Swiss francs (US$5 billion), but this was due mainly to a one-off boost in 2002 from the partial spin-off of eyecare unit Alcon.
Coca-Cola announced last week that it was taking over full control of its US water joint venture, CCDA Waters, buying out its partner, Danone. However, speculation over the poor performance of the CCD...
Nestle Waters Direct Portugal is to by the Portuguese office delivery water company Peyroteo & Caravela, it was reported this week....
Nestle Waters is to bottle its Contrex and Vittel water brands at the same plant in France, according to local press reports....
Nestea, the tea brand developed jointly by Coca-Cola and Nestle, has announced that it is to introduce Nestea Ice, already available in the Asia-Pacific region, in the US....
Nestle Waters has bought a majority stake in a new joint venture in Algeria....
Nestle Waters Spain has inaugurated a new water plant in Herrera del Duque near Badajoz, western Spain, a company spokesman has confirmed to just-drinks....
Nestle Waters has finally reached an agreement with the CGT trade union over restructuring plans for its Perrier bottling plant....
Nestle Waters is to launch a range of sugar free water drinks under its Vittel water brand in time for summer....
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