Bloomberg News

Osem to Lower Prices on 35 Products, Plans Executive Pay Freeze

October 24, 2011

Oct. 24 (Bloomberg) -- Osem Investments Ltd. said it will cut the prices of 35 products, including pasta, ketchup and powdered soup mix, 5 percent to 10 percent beginning Nov. 1. The maker of processed foods controlled by Nestle SA also will freeze executive salaries starting from April 2012, according to an e-mailed statement today.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Susan Lerner at slerner2@bloomberg.net


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