--(www.USEquityNews.com)-- 09/05/2008 - Consumer Goods industry alert provided by U.S. Equity News. Swiss food and drinks giant Nestle SA said Thursday that its Americas chief Paul Polman has resigned. Polman is leaving to become chief executive of rival company Unilever PLC (NYSE: UL), the Netherlands-based company said in a separate statement. The 52-year-old Dutchman was tapped as a possible successor to Nestle CEO Peter Brabeck-Letmathe, but lost out to Paul Bulcke last year. Nestle said its Europe chief Luis Cantarell will take over the Americas region from Polman, who had been with the company for 29 years.
Chiquita Brands International Inc. (NYSE: CQB) wants to move beyond its image as a banana grower and into one as a consumer products company. The Cincinnati-based company has started a rewards program with online auctions for customers called Fresh Funds, offering customer rewards through a point system. The points are printed on the company's specially marked Fresh Express prepackaged salads and on Chiquita-branded fruit and vegetable snacks. Customers collect points with their purchases of the items. They can use the points to bid in online auctions for items such as a Nintendo Wii exercise game, or they can donate their points to charity. The auctions are held weekly and offer different items each week.
Bunge Limited (NYSE: BG) recently announced that the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976 relating to Bunge's proposed merger with Corn Products International, Inc. has expired, thereby satisfying a condition to the closing of the transaction. The transaction remains subject to the satisfaction of other customary closing conditions, including receipt of non-U.S. regulatory clearances, as well as approval by the shareholders of both companies. The transaction is expected to close in the fourth quarter of 2008. Bunge Limited is a leading global agribusiness and food company founded in 1818 and headquartered in White Plains, New York.
NutraCea (OTCBB: NTRZ), a world leader in stabilized rice bran (SRB) nutrient research and technology, recently announced financial results for its second quarter ended June 30, 2008. The Company reported net revenues of $10.3 million for the second quarter of 2008, compared to net revenues of $13.0 million for the second quarter of 2007. The net revenues for the second quarter of 2007 included a one-time license fee of $5.0 million (non-recurring) without which net revenues for the second quarter 2007 would have been $8,000,000. Sequentially, net revenues for the second quarter of 2008 rose 102% over first quarter 2008 net revenues of $5.1 million. The Company's two business segments, NutraCea and Irgovel, recorded net revenues of $3.9 million and $6.4 million, respectively, for second quarter 2008.
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