Nestlé terminates existing share buyback program, will start new share buyback program of up to CHF 20 billion on January 3, 2022

, Nestlé S.A. will start a new share buyback program of up to CHF 20 billion on January 3, 2022. The company expects to buy around CHF 10 billion of shares in the first twelve months. The new share buyback program shall be completed by the end of December 2024.


Concurrently with this press release, Nestlé S.A. has published the details of the program in a buyback notice. The volume of monthly share buybacks will depend on market conditions. Should any sizable acquisitions take place, the amount of the share buyback program will be adjusted accordingly.

Share of Domestic Production in Consumption of Finished Steel Increasing

The following details of consumption and share of domestic production and import in the consumption of finished steel during the last three years and current year indicate that the share of domestic production in the consumption of finished steel has been increasing:-

Finished Steel (in million tonnes)

Year

Consumption

Production

Import

% Share of Import in consumption

% Share of Domestic Production in Consumption

2018-19

98.71

101.29

7.84

7.9

92.1

2019-20

100.17

102.62

6.77

6.8

93.2

2020-21

94.89

96.20

4.75

5.0

95.0

April-June, 2021*

24.85

26.23

1.16

4.7

95.3

Source: JPC; *provisional

The details of export and import of finished steel during last three years and current year as given below indicate that India has been a net exporter of finished steel since 2019-20.

Finished Steel (in million tonnes)

Import

Export

2018-19

7.84

6.36

2019-20

6.77

8.36

2020-21

4.75

10.78

April- June, 2021*

1.16

3.56

Source: JPC; *provisional

The demand for steel in the country is predominantly met by domestic production and the percentage share of import in consumption has been gradually declining for last three years.

This information was given by the Union Minister for Steel Shri Ram Chandra Prasad Singh in a written reply in the Lok Sabha today.

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