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PIA Press Release

Pres. Arroyo inaugurates Nestle business services

Manila (29 February) -- President Gloria Macapagal-Arroyo formally inaugurated in Meycauayan, Bulacan today Nestle Business Services (NBS) AOA, a new corporate entity of the global Nestle Group, which will serve as the shared service center for financial and employee service needs of Nestle Companion in Zone AOA (Asia, Oceania and Africa). Countries to be served by NBE include the Philippines, Malaysia/Singapore, Indonesia, Indochina, Australia and New Zealand.

During the inauguration, Pres. Arroyo was briefed by the professional services to be rendered by NBS. The entity's financial services will include account payables and receivables as well as accounting operations; while its employee services will cover payroll, HR administration, time management and benefits administration.

Nestle Philippines, Inc. (NPI) Chairman and CEO Nandu Nandkishore said that the establishment of NDC in the country, which was announced in August 2007 is a concrete expression of the Nestle Group's long-term confidence and commitment to support the continued economic growth of the country.

Nandiskshore noted that a number of countries had been considered as possible sites for NBS, with the Philippines finally selected because of talent availability and cost efficiency. "This decision recognizes our world-class capabilities in financial and employee services, and will allow us, yet again, to showcase Filipino competence," he said.

NBS is designed to deliver best-in-class office support at competitive service levels and cost to Nestle Companies in the region. The Nestle Group as successfully implemented the shared service model in Europe and the Americas, resulting in maximized cost effectiveness, efficiency, and higher quality of financial and employee service transactions.

"NBS AOA centralizes the financial and employee service and requirements of various Nestle Companies in Zone. AOA at one location, in the Philippines, We expect this shared service setup not only to deliver cost efficiencies, but to also allow Nestle companies to focus more on their core business, which generating demand," NBS AOA Head Craig Conolly said. NBS AOA is located at the same site in Meycauayan where Nestle Philippines' North Distribution Center operates as the companies largest and most modern distribution center in the country.

"We chose Meycauayan as the NBS site because the area in under developed from a BPO standpoint. This will allow us to recruit local talent, control turnover, and deliver on or commitments," Conolly said.

He said that financial and employee services transaction are being taken over by NBS progressively, starting with Nestle Philippines which completed the transition of its financial services by end of 2007, and its employee services this month. A total transition of all Nestle companies in the Zone is expected by end of 2008.

NBS AOA now has a compliment of 130 professionals with finance and HR expertise, with its manpower expected to grow to 447 by end of 2008, of whom 95% will be Filipinos. "A major reason why we chose the Philippines as a site for the NBS AOA Shared Service Center is the availability as the local talent, with an impressive number of graduates generated by the Philippine educational system. We view this as a key strength that will allow us to drive success for NBS AOA," Conolly said.

"We are happy that through the NBS, we are able to help spur economic growth in the country," Nandiskshore said. Nestle Philippines had previously disclosed investments of more than PhP 1.3 billion in 2007, to further enhance its capabilities to serve domestic and export demand. The country is the Nestle Group' ASEAN Supply Center for breakfast cereals, filled milk powder, and infant nutrition. Nestle's local investments over five years, from 2003 to 2007, have totaled close to Php 10 billion. NPI sales in 2006 stood at Php 67.2 billion, with exports amounting to Php 6.4 billion or nearly 10% of sales. (PIA-MMIO) [top]

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