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Economy in brief: Unilever unaffected by division’s sale
Global fast moving consumer goods firm PT Unilever Indonesia claimed that the plan to sell its margarine division would not affect the Indonesian branch’s performance
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lobal fast moving consumer goods firm PT Unilever Indonesia claimed that the plan to sell its margarine division would not affect the Indonesian branch’s performance.
Unilever Indonesia finance director Tevilyan Yudhistira Rusli said on Wednesday that the company had a strong presence in the country with its Blue Band brand.
Introduced to the Indonesian market in 1934, the brand is today a market leader in margarine, but its contribution to the company’s sales is not significant.
“Blue Band only contributed 1.5 percent to our total sales. It is now the biggest brand in Indonesian margarine market, but the sales are not significant to the company,” he said at Unilever Indonesia’s headquarters in South Tangerang, Banten.
He added that there were three bidders for Unilever’s margarine business and the process was ongoing.
Unilever is reportedly selling its spread and margarine division as part of a restructuring plan.
The sell-offs began on Sept. 22 when Unilever South Africa Holdings announced the sale of its spread business to investment company Remgro for US$840 million.
