HERSHEY, Pa.--(BUSINESS WIRE)--The Hershey Company (NYSE: HSY) today announced that it has entered into an alliance with The Ferrero Group in North America through a joint warehousing, transportation and distribution initiative. This alliance is consistent with Hershey's ongoing productivity efforts to improve supply chain efficiency and enhance competitiveness. The two companies will also work together to maximize corporate social responsibility efforts with the expectation of reducing carbon dioxide (CO2) emissions and energy consumption in warehousing and freight, with fewer vehicle journeys needed to move products to customers.
John P. Bilbrey, President and Chief Executive Officer, The Hershey Company, said, “Ferrero is a respected international company with a portfolio of successful brands including Tic Tac® Mints, Ferrero Rocher® Chocolates and Nutella® Hazelnut Spread. Collaborative supply chain operations are a growing trend across industries as companies seek to fully leverage their logistics infrastructure. Although we are initially focusing on one region of our business, we are excited about the full potential of this project.”
Productivity improvements from this initiative will begin to be realized in 2012. This alliance does not encompass manufacturing, selling or marketing activities.
About The Hershey Company
The Hershey Company (NYSE: HSY) is the largest producer of quality chocolate in North America and a global leader in chocolate and sugar confectionery. Headquartered in Hershey, Pa., The Hershey Company has operations throughout the world and more than 13,000 employees. With revenues of about $6 billion, Hershey offers a wide range of confectionery products, including such iconic brands as Hershey's, Reese's, Kisses, Hershey's Bliss, Special Dark, Hershey’s Syrup, Kit Kat, Twizzlers, Ice Breakers, PayDay and Jolly Rancher. Hershey also is a leader in the premium and artisan chocolate segments, with such brands as Scharffen Berger and Dagoba, offered through the Artisan Confections Company, a wholly owned subsidiary. The company is focused on growing its presence in key international markets in Asia and Latin America while continuing to build its position in the United States and Canada.
For more than 100 years, The Hershey Company has been a leader in making a positive difference in the communities where its employees live, work and do business. Corporate Social Responsibility is an integral part of the company's global business strategy, including goals and priorities focused on fair and ethical business dealings, environmental stewardship, fostering a desirable workplace for employees, and positively impacting society and local communities. Milton Hershey School, established in 1909 by the company's founder and administered by the Hershey Trust Company, provides quality education, housing, and medical care at no cost to children in social and financial need. Students of Milton Hershey School are direct beneficiaries of The Hershey Company's success. Visit us at www.hersheys.com.
Safe Harbor Statement
This release contains statements that are forward-looking. These statements are made based upon current expectations that are subject to risk and uncertainty. Actual results may differ materially from those contained in the forward-looking statements. Factors that could cause results to differ materially include, but are not limited to: issues or concerns related to the quality and safety of our products, ingredients or packaging; changes in raw material and other costs; selling price increases, including volume declines associated with pricing elasticity; market demand for our new and existing products; increased marketplace competition; disruption to our supply chain; failure to successfully execute acquisitions, divestitures and joint ventures; changes in governmental laws and regulations, including taxes; political, economic, and/or financial market conditions; risks and uncertainties related to our international operations; disruptions, failures or security breaches of our information technology infrastructure; the impact of future developments related to the investigation by government regulators of alleged pricing practices by members of the confectionery industry, including risks of subsequent litigation or further government action; pension cost factors, such as actuarial assumptions, market performance and employee retirement decisions and funding requirements; the ability to implement our supply chain realignment initiatives within the anticipated timeframe in accordance with our cost estimates and our ability to achieve the expected ongoing annual savings from these initiatives; and such other matters as discussed in our Annual Report on Form 10-K for 2010.
All information in this press release is as of October 5, 2011. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.