Nestlé to open R&D centre for cut-price products
Nestlé is to spend CHF 50 million (US$50.5 million) on setting up an R&D centre in India to develop its “popularly positioned products” that are sold to poorer consumers.
The facility will be built in Manesar, close to Nestlé’s head office in India, which is in Guragon, in the state of Haryana.
Nestlé said yesterday that the site, which is expected to be up and running by 2012, will focus on “popularly positioned products” for the Indian market but also worldwide.
“The research at this centre will provide exciting opportunities for innovation. It will allow us to offer consumers in India and beyond the choice of tasty, healthy, and nutritious products,” said Nestlé senior vice president Klaus Zimmermann.
Nestlé generated sales of INR 52.22 billion (US$1.15 billion) in India in 2009. The market is one of a clutch of developing economies where Nestlé’s generates annual sales of CHF 1 billion. Its largest emerging market in terms of sales is Brazil, where it turns over CHF 5 billion.
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