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Hindustan Uniliver Ltd
Two India-based facilities of tyre maker CEAT and FMCG major Hindustan Unilever Ltd have joined the Global Lighthouse Network of the World Economic Forum for transforming manufacturing through innovation. Announcing 17 new members to the network, the WEF on Tuesday said this community of 189 industry leaders is pioneering the use of cutting-edge Fourth Industrial Revolution technologies in manufacturing. Other new members are based in the United Arab Emirates, China, Germany, Malaysia, Saudi Arabia, Taiwan, United Kingdom, United States and newcomer Morocco, home to the first Lighthouse site in Africa. The latest cohort of Lighthouses has observed an average 53 per cent boost in labour productivity and 26 per cent reduction in conversion costs attributed to various digital solutions such as AI, machine learning, advanced analytics and more, the WEF said. On Sriperumbudur facility of CEAT Ltd, the WEF said, "To support global expansion, CEAT needed to manage three times more SKUs ..
FMCG major HUL on Friday said it has incorporated a new subsidiary Kwality Wall's for the proposed demerger of the ice cream business of the company. Kwality Wall's (India) Ltd (KWIL) has been incorporated "for the purpose of the proposed demerger of the company's ice cream business, which is currently under evaluation by the Board of the company," the FMCG major said in a regulatory filing. HUL will own 100 per cent of the issued and subscribed share capital of KWIL. Earlier on November 25, 2024, HUL approved the demerger of the ice cream business, which owns brands like Kwality Wall's, Cornetto and Magnum into an independent listed entity. The existing shareholders of the FMCG major will receive shares in the new entity in proportion to their shareholding in HUL, it had said. The board of HUL decided to de-merge the ice cream business, based on the recommendation of the Independent Committee, which was formed by the FMCG major earlier in September 2024. The Independent Committe
ITC Agri Business Division is encouraging the cultivation of medicinal and aromatic plants to expand the conglomerate's presence in the fast-growing health and wellness products market in the food, personal care and other categories. The agri-division of ITC is working with farmers and helping them to diversify their crops by encouraging them to cultivate high-demand crops like Ashwagandha, Tulsi, and Kalonji in Madhya Pradesh and turmeric in southern states. Through this initiative, ITC looks to meet its requirements by chasing its FMCG ambitions and also leverages the B2B nutraceuticals space, bridging the demand-supply gap in the market, which has evolved rapidly after the pandemic. "As a part of the ITC Next strategy, the company's Agri-Business Division has pivoted its strategic focus towards rapidly scaling up its value-added Agri Products (VAAP) portfolio to accelerate growth and competitiveness. In line with the larger ITC NextGen Agriculture vision, we are focusing on ...