Nestlé is spending billions to cut plastic waste [CNNMoney.com]
Unilever PLC (UL)
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Source: CNNMoney.com
Nestlé is spending billions to create a market for recycled plastics London (CNN Business) Food companies trying to reduce their consumption of plastic have a big problem — it's hard to find suitable recycled material. Nestlé says it's willing to spend more than $2 billion to try and fix that. The world's biggest food company said in a statement Thursday that it would cut costs in other parts of its business to free up more than 1.5 billion Swiss francs ($1.6 billion) to buy 2 million metric tons of recycled plastic between now and 2025. Ben & Jerry's maker to slash new plastic use by nearly 400,000 tons per year Nestlé said it would be paying above the market rate for the recycled material , part of its strategy to alleviate a shortage of used plastics suitable for
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Sec Filings
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- UL's page on the SEC website