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TIMELINE-Unilever beats forecasts as volumes increase

Published: 05 Nov 2009 17:11:23 PST

Nov 5 - European consumer goods giant Unilever beat forecasts with a 3.6 percent rise in underlying third-quarter volume sales and pledged its turnaround under chief executive Paul Polman would continue into 2010.

Following are key events at Unilever since 2008:

July 21, 2008 - Agrees to sell its Bertolli olive oil and vinegar business to Spanish food group SOS Cuetara for 630 million euros ($936 million) as part of previously announced plan to sell non-core businesses with a collective turnover of over 2 billion euros.

July 28 - Sells its North American laundry business to private equity firm Vestar Capital Partners for $1.45 billion to complete the bulk of its sell-off programme.

Sept. 4 - Names Nestle's Polman as CEO, the first new head of Unilever not promoted from within the company in its 78-year history. He replaced Patrick Cescau at the start of 2009.

Dec. 1 - Cuts 250 jobs worldwide at it merges research and development operations into one unit to cut costs.

Jan. 26, 2009 - Says it is buying the TIGI professional hair care products business and academies for $412 million from the owners of Toni&Guy hair salons, its first move into hair salon products.

Feb. 5 - Scraps financial targets due to global economic uncertainty, saying it could not give a specific outlook in current conditions.

May 7 - Polman rules out a return to issuing financial targets in the near future and says the company may drop such guidance permanently, breaking with rivals such as Procter & Gamble Co and Nestle SA.

Sept. 16 - Says it plans to reduce production at its Czech unit before closing it in 2010. It will lay off all 634 people at its subsidiary in Nelahozeves, 30 km north-west of Prague.

Sept. 25 - Agrees to acquire Sara Lee's personal care brands including Sanex and Brylcreem for $1.87 billion.

Nov. 5 - Beats forecast for underlying third-quarter volume sales.

(Writing by Carl Bagh, Editorial Reference Unit, Bangalore; Editing by David Cutler and Dan Lalor)


Source: Reuters

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