Leading Philippines' milk firm, Alaska Milk Corporation (AMC), said on Tuesday that from April it will terminate a cereal distribution deal with Quaker Oats Asia Inc. The primary reason given for the termination is PepsiCo Inc's (PEP) recent purchase of Quaker Oats Co. (OAT), the parent firm of Quaker Oats Asia. The oatmeal deal was the second to be disrupted this year between Alaska Milk and a foreign food firm. Alaska earlier broke an exclusive distribution deal with Nabisco International following the purchase by the U.S.-based Philip Morris (MO) of the biscuit firm. Kraft Foods, a unit of Philip Morris, will now handle the distribution of Nabisco products such as Oreo Cookies, and Ritz crackers in the Philippines. projected its net income to reach 250 million pesos this year against 388 million pesos in 2000. Reuters
