FRITO LFRITO LAY – TURKEYAY – TURKEY

24th ANNUAL CONFERENCE ON24th ANNUAL CONFERENCE ONUS – TURKISH RELATIONSUS – TURKISH RELATIONS

June 5 – 7, 2005June 5 – 7, 2005

FAHHAN OZCELIKFAHHAN OZCELIK

5,6 6,6

8,4

0

2

4

6

8

10

2002 H1 2003 H1 2004 H1

488,4578,1

692,5

0

150

300

450

600

750

2002 H1 2003 H1 2004 H1

45,9

74,1

96,2

0

25

50

75

100

2002 H1 2003 H1 2004 H1

$ BIO

FMCG Growth (Value)FMCG Growth (Value) Macro snacks Growth (Value)Macro snacks Growth (Value)

7.4519.415

13.341

0

2.500

5.000

7.500

10.000

12.500

15.000

2002 H1 2003 H1 2004 H1

Salty Snacks Growth (Value)Salty Snacks Growth (Value) Salty Snacks Growth (Volume)Salty Snacks Growth (Volume)

$ MM

Source: Household Panel January - June

TONS$ MM

Major Growth in All FMCG Categories following 2001 CrisisMajor Growth in All FMCG Categories following 2001 Crisis

Source: AC Nielsen Macrosnack Report January - June

Source: AC Nielsen Macrosnack Report January - JuneSource: AC Nielsen Macrosnack Report January - June

+%50

+%110

+%42

+%80

11.02910.076

10.731 10.927 10.556

15.128 14.933

22.343

30.385

16.911

8.030

10.4548.856

14.716

1.7881.519

3.2252.197

8.378

4.041

3982.432

0

5.000

10.000

15.000

20.000

25.000

30.000

35.000

94 95 96 97 98 99 "00 "01 "02 "03 "04

VolumeCapital Investments

%103

Political & Economical Stability:Political & Economical Stability:Accelerated Growth leading to InvestmentsAccelerated Growth leading to Investments

Though Traditional Snacking is high the new habits are developingThough Traditional Snacking is high the new habits are developing

Turks are heavy macrosnackers...3

2,5 2,5 2,52,3 2,2

2 1,9 1,9 1,8 1,8 1,8 1,7 1,7 1,6 1,6 1,5 1,4 1,3

0,7

USA UK

Chi

le

Turk

ey

Bra

zil

Mex

ico

Chi

na

Net

herla

nds

Peru

Spai

n

Bel

gium

Col

ombi

a

WEB

U

Pola

nd

Aus

tral

ia

Arg

entin

a

Port

ugal

P R

ico

Gre

ece

Indi

a

Past 24H Snacks Consumption Occassion

Kaynak: 5Ws Çalismasi 2003

Packaged (Processed) Snacking Consumption is rather low

2015 14 14 13 12 10 10 8 7 6

1

23

55

Frui

t

Nut

s

Ice

Cre

am

Coo

kies

Past

ries

(Bor

ek)

Sim

it

Gum

Cho

cola

tes

Bak

ery

(Acn

a, P

ogac

a)

Salty

Sna

cks

Snac

k C

akes

Cra

cker

s

Can

dies

Popc

orn

315.336400.347 320.898

376.498

414.720448.958

250.000

300.000

350.000

400.000

450.000

500.000

1999 2000 2001 2002 2003 2004fcast

However the trend is growing in Packaged SnacksSales Value)

Kaynak : Internal projection based on SS share in MS

P24Hr Makro Snack Consumption %

Source: 5Ws Study 2003

Turks likes snacking !

0

10.000.000

20.000.000

30.000.000

40.000.000

50.000.000

60.000.000

70.000.000

80.000.000

90.000.000

Corn MealCornPotato

Corn Meal 3.073.052 3.103.175 3.336.600 8.204.257 6.126.370 8.000.000

Corn 6.170.625 4.342.266 5.555.820 7.052.357 10.046.048 16.000.000

Potato 29.481.193 20.023.156 19.871.089 25.900.000 44.453.676 58.785.000

2000 2001 2002 2003 2004 2005 (PLAN)

38.724870

27.468.597 28.763.509

41.156.614

60.716.094

82.785.000

Frito Lay 2000 – 2004 Frito Lay 2000 – 2004 Agricultural Product PurchasesAgricultural Product Purchases

Industrial Potato Issues in TurkeyIndustrial Potato Issues in Turkey

PPotatootato

Consumption (ton) : 44.454

Unit Cost (USD/ton) : 282.-

Total Purchase(USD): 12.5 Million

CornCorn

Consumption (ton) : 10,046

Unit Cost (USD/ton) : 365.-

Total Purchase (USD): 3.7 Million

Corn MealCorn Meal

Consumption (ton) : 6.212

Unit Cost (USD/ton) : 493.-

Total Purchase (USD): 3.0 Million

Potato & Corn ProcurementPotato & Corn Procurement through Contracted Farmingthrough Contracted Farming

Contract Contract

Big Farmers(12)

Farmer OwnProduction

Suppliers (4)

Direct Procurement Indirect Procurement

Sub-Contract (85)

Farmer Farmer

�� March ‘03March ‘03 Seed OrderSeed Order

�� March ’04 March ’04 Elite Seed ImportElite Seed Import

�� Apr-May ‘04 Apr-May ‘04 Elite SeedElite SeedPlantingPlanting

�� Sep. ‘04Sep. ‘04 Certified SeedCertified SeedHarvestHarvest

�� Jan – Apr ’05 Jan – Apr ’05 CertfCertf. Seed. SeedPlantingPlanting

�� May – Oct ’05 May – Oct ’05 ChipstockChipstock

�� Potato HarvestPotato Harvest

7500 ton

100 ton

1000 ton

Typical Potato Production Cycle 26 monthsTypical Potato Production Cycle 26 months

Industrial Variety Approval ProcessIndustrial Variety Approval Process

• Field Trials

•Observations

•Supplier Preferences

• Productivity & Efficiency

• Defects and Yield• Appearance

• Taste

• Crispiness, mouth feel

PC ProductionAGRO Consumer

Industrial Chips Potato VarietiesIndustrial Chips Potato Varieties

FL ApprovedAgriaAsterDiamantErnestolzFrescoHermesHertha (stored) Karilera Lady Rosetta Mila Panda Pepo RecordSaturna

Concession RequiredAtlanticBolestaColumbusCourageDesireeEerstelingAgriaMaris PiperLady Claire

Potato Farming AreasPotato Farming Areas

Kayseri

Adana

Nevsehir

Sivas

Odemis

Yenisehir

Karaman

Nigde

Suadiye

AltinovaEskisehir

Afyon

Konya Tufanbeyli

Manisa

Supplier Development Capacity & InvestmentsSupplier Development Capacity & Investments

Potato Stores:3 NosTotal Capacity: 32.000 tonInvestment: USD 3,5 MillionEquipment Inv.: $1,4 Million

Corn Silos & Facilities:11 NosTotal Capacity: 24.000 tonInvestments: USD 2,2 MillionEquipment Inv.: $ 1.0 Million

Corn Meal Production Facilities: 2 NosTotal Capacity: 14.000 tonInvestment: USD 4,2 Million

Total DevelopmentInvestment:

USD 12.3 Million

Labor Intensive ProductionLabor Intensive Production

Potato Field Labor Cost: 67.736 wagesPotato Storage Labor Cost: 7,131 wagesTechnician Cost (12x22x24) 6,336 wagesAppx. Total Labor Cost (’04): USD 950,000.-

Appx. Transport. Cost (04): USD 3.0 Million(5250 trips)

FLT Technical SupportFLT Technical Support

•Train the Trainer of Supplier•Certification•In the Field Training &Support•Vendor Assurance Programs

10

20

30

40

50

60

70

Ton

0%

10%

20%

30%

40%

50%

60%

70%

% C

hang

e

Plan 20,6 19,7 24 48,5

Actual/Frcst 19,7 25,9 39 69

% Variance 0% 31% 63% 42%

2002 2003 2004 2005

Forecasting & Planning is the Key with the givenForecasting & Planning is the Key with the givenconstraints on the Importation of Seeds & constraints on the Importation of Seeds & PotatosPotatos

The production cycle of 26 mos from elite seed planting to chipstockharvesting requires a very comprehensive planning in spite of marketdynamics.The natural growth of business is blocked by the difficulties of seed andpotato importation

PPotatootato Quality QualityTurkey Potato Defects % 8<45

0%

20%

40%

60%

80%

100%

0

5

10

15

20

Pre

-Optisor

t

>15% 10,8 16,1 26,1 33,6 44,1 1 0 1,5 2,4 0 16,5 2 2,4

8-15% 41,5 67,8 50,7 58 54,1 27,1 16,8 41,8 56,8 8,3 54 68,8 75,2

5-8% 43,6 14,2 20,1 7,5 1,8 47 56,1 40,3 33 22,9 24,2 24 20,7

<5% 4 1,9 3 0,9 0 25 27,1 16,5 7,8 68,8 5,3 5,2 1,7

In Bag Defects 4,7 5,1 5,7 5,8 6,2 3,6 3,2 3,6 3,8 2,5 4,1 4,1 4,3

Volumes (MT) 3284 3453 2974 1581 1229 2808 2214 3060 2852 2876 2081 3052 3565

P1 P2 P3 P4 P5 P6 P7 P8 P9 P10 P11 P12 P13

EU Defects Average %8<84

0%

20%

40%

60%

80%

100%

0

5

10

15

20

Pre

-Opti

sort

% Ref. Capable YAG 49,7 50,1 48,8 48,6 47,3 63,7 78 94 93 94 88 78 75

>15% 4 4 2 3 5 3 2 1 2 3 4 5 4

8-15% 24 19 16 17 16 11 10 5 5 6 6 17 22

5-8% 32 28 28 29 28 24 20 6 9 11 14 26 32

<5% 40 50 54 51 50 63 69 87 84 80 76 53 42

Pre-Optisort 6,7 6 5,7 6 6,2 5 4,3 2,6 2,8 3,3 3,9 5,7 6,7

Volumes (MT) 55959 58402 65319 61952 67301 66475 67843 63306 61524 63255 63951 65919 65779

P1'04 P2'04 P3'04 P4'04 P5'04 P6'04 P7'04 P8'04 P9'04 P10'04 P11'04 P12'04 P13'04

"

Industrial potato sharesIndustrial potato shares

8,283,62 3,05

3,645,08

5,17

13,524,08 4,05

2,867,02

0,13

0%

20%

40%

60%

80%

100%

USA Netherlands UK France Germany Turkey

Kitchen Potato Industrial Potato

21,8 7,7 7,1 6,5 12,1 5,3

Million ton

18,55,9

0,5

3,31,8

4,8

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

USA Netherlands Turkey

Contracted Not-contrated

Contracted Potato Farming ComparisonContracted Potato Farming Comparison

21.8 7.7 5.3

Million ton

Frito Lay Potato Unit Cost IndexFrito Lay Potato Unit Cost Index

Cost Index

88

69

4850 50

55

72

42

9194

49

80

100

49

62

20

30

40

50

60

70

80

90

100

Greece UK

Netherlan

ds

Hungary

Spain

Portug

al

Egypt

Poland

Israel

Cyprus

S.Africa

KSA

Turkey

Belgium

EU Avg

Frito Lay Quality Reference ProductionFrito Lay Quality Reference Production (%) (%)

9196

73

54

93 91

84

45

20

30

40

50

60

70

80

90

100

UK Netherlands Spain Portugal Poland Belgium Turkey EU Avg

69

42

97

61

89

112

100

110

100

84

100

20

40

60

80

100

120

140

160

Cost '95 Cost '99 Defect '95 Defect '99 Efficiency '95 Efficiency '99

Poland Turkey

27

36

Poland Success StoryPoland Success Story

Poland Success Story – Cost Efficiency &Poland Success Story – Cost Efficiency &Quality ImprovementQuality Improvement

��Fields are big and not scatteredFields are big and not scattered

��Contracted Farming with Cost + Profit & incentive toContracted Farming with Cost + Profit & incentive toQuality Improvement – Minimized Price FluctuationsQuality Improvement – Minimized Price Fluctuations

��Conscious Input (Seed, fertilizer & chemicals),Conscious Input (Seed, fertilizer & chemicals),minimum 3 years Crop Rotation (integration w/animalminimum 3 years Crop Rotation (integration w/animalbreeding) & continuous technical supportbreeding) & continuous technical support

��Potato handling, packing, storage and transportationPotato handling, packing, storage and transportationstandards are high – minimized lossesstandards are high – minimized losses

��Seasonal Potato importation is allowed and easySeasonal Potato importation is allowed and easy

��Customs and quarantine regulations are fastCustoms and quarantine regulations are fast

��Incentives for infra-structure, foreign investments andIncentives for infra-structure, foreign investments andexportsexports

Outcome

�� The supply of Industrial potato not meeting theThe supply of Industrial potato not meeting thedemanddemand

�� The cost and quality of Turkish potato market is notThe cost and quality of Turkish potato market is notcompetitive at all with foreign marketscompetitive at all with foreign markets

�� Unlike Government partners with the Industry for theUnlike Government partners with the Industry for thedevelopment of Potato Agriculture, Turkey willdevelopment of Potato Agriculture, Turkey willend up importing potato with World Trade & EUend up importing potato with World Trade & EUregulations change!regulations change!

What Frito Lay Turkey can offer as MarketWhat Frito Lay Turkey can offer as MarketLeader in Salty Snacks IndustryLeader in Salty Snacks Industry

•• Assured Quality Elite Seed importation for our produceAssured Quality Elite Seed importation for our produce•• Specialist Support & Training for quality Certified Seed productionSpecialist Support & Training for quality Certified Seed production•• Technical Support to farmers to increase field productivityTechnical Support to farmers to increase field productivity

•• Technical & Financial support to Develop Model Industrial Potato productionTechnical & Financial support to Develop Model Industrial Potato production

•• At Contracted Farming, guarantee for purchase and incentive for qualityAt Contracted Farming, guarantee for purchase and incentive for quality

•• Exports of quality Potato Chips and Competitive Industrial Variety PotatoExports of quality Potato Chips and Competitive Industrial Variety Potato

•• Pioneering to develop Modern Warehousing and Handling Equipment &Pioneering to develop Modern Warehousing and Handling Equipment &handover to suppliers within a periodhandover to suppliers within a period

•• Cooperation with Public Sector to provide training abroad at Frito Lay bestCooperation with Public Sector to provide training abroad at Frito Lay bestpractice farming implementation techniquespractice farming implementation techniques

•• Cooperation with Universities to develop agricultural protection andCooperation with Universities to develop agricultural protection andquarantine labsquarantine labs

•• Scholarships to talented Agricultural Faculty students abroadScholarships to talented Agricultural Faculty students abroad

What Frito Lay Turkey expects from GovernmentWhat Frito Lay Turkey expects from Government

•• Elite Seed importation and quarantine requirementsElite Seed importation and quarantine requirementsshould be according to EU regulationsshould be according to EU regulations

•• All Quotas on Elite Seed importation should beAll Quotas on Elite Seed importation should beremovedremoved

•• At Seed approval and certification EU regulationsAt Seed approval and certification EU regulationsshould be takenshould be taken

•• The barriers on seasonal potato importation should beThe barriers on seasonal potato importation should beremovedremoved

•• The Government should give incentives for industrialThe Government should give incentives for industrialpotato producers and exporterspotato producers and exporters

IntroductionIntroduction

�� Frito Lay TurkeyFrito Lay Turkey, , Part of Pepsico Intl. within MEA Regionunder EMED Business Unit. 1988 JV, ’93 100%

��Revenue:Revenue:– ’04 Net Revenue: $168MM, ’02 $71MM 137% Growth in 2yrs

��# of employees# of employees– 2,165 employees (incl. contractual/dist.), 61% Sales, 28% Plant & 11%

HO

��Macro Snacks share, Salty Snacks Share, brands, distribution etc.Macro Snacks share, Salty Snacks Share, brands, distribution etc.– April ’05 Salty Snacks 14.6% in Macro (’04 size $1,700MM)– FLT 79.2% in Salty Snacks (’04 size $230MM)– FLT company share in Macro YTD ’05 13% #3– Global Brands in top 10 Macro shares

» #1 Doritos 4.2%» #2 Cheetos 2.6%» #5 Lay’s 2.0%» #6 Ruffles 2.0%

– Numeric Distribution 76.9% & Weighted D. 96.2%

Last 3 yrs Growth & OutlookLast 3 yrs Growth & Outlook

�� Economic & Political StabilityEconomic & Political Stability�� Remarkable economic achievements during Remarkable economic achievements during AKPAKP period with ’04 period with ’04

GNP growth of 9.9% & Consumer Price Inflation 9.4%, HighGNP growth of 9.9% & Consumer Price Inflation 9.4%, HighCentral Bank reserves $37 billionCentral Bank reserves $37 billion

�� Capacity utilization rate reached 80.3% in MarchCapacity utilization rate reached 80.3% in March�� FMCGFMCG & & MacrosnackMacrosnack & Salty Snacks Growth & Salty Snacks Growth

�� Significant growth in all categories during last 2 years;Significant growth in all categories during last 2 years;FMCGFMCG 50%, 50%, MacrosnacksMacrosnacks 42% & Salty Snacks 110% 42% & Salty Snacks 110%

�� Frito Lay GrowthFrito Lay Growth�� 137% growth in revenue during the same period137% growth in revenue during the same period

�� Growth ExpectationGrowth Expectation�� ’05 growth forecast is 22%’05 growth forecast is 22%

�� Capital Investment ProgressionCapital Investment Progression�� Plans to have $Plans to have $65MM65MM capital investment over 3 yrs. capital investment over 3 yrs.

Why we are optimistic for the futureWhy we are optimistic for the future ? ?

��EUEU accession road accession road�� Road to October 3rd is still bumpyRoad to October 3rd is still bumpy�� Referendums in France & Holland changed the agenda within Referendums in France & Holland changed the agenda within EUEU�� German elections likely to bring a new concept privileged state rather than full membershipGerman elections likely to bring a new concept privileged state rather than full membership�� Turkey still needs to sign the protocol for Customs Union including Cyprus as a member stateTurkey still needs to sign the protocol for Customs Union including Cyprus as a member state

��Outlook for 05Outlook for 05�� ’05 outlook is + with growth of 5% & 8.0% CPI’05 outlook is + with growth of 5% & 8.0% CPI�� Further a steady 5% annual growth can be maintainedFurther a steady 5% annual growth can be maintained

��Further economic growthFurther economic growth�� No more ups & downs with stability established in politics and economyNo more ups & downs with stability established in politics and economy�� The risk of economic and political collapse is low. We have a lot of optimism.The risk of economic and political collapse is low. We have a lot of optimism.�� There is now a real chance of sustainabilityThere is now a real chance of sustainability

��Still hurdles to over come!!!Still hurdles to over come!!!�� Unemployment is high 11.5%Unemployment is high 11.5%�� The current account deficit is $3.8 billion in 1st 2 The current account deficit is $3.8 billion in 1st 2 mosmos of 2005 was mainly financed by portfolio of 2005 was mainly financed by portfolio

investmentsinvestments

�� Intellectual property rights is an issueIntellectual property rights is an issue�� Unbalanced income distributionUnbalanced income distribution�� Unfair competition because of “Unfair competition because of “KayitKayit DisiDisi” sizable grey economy that reduces the fiscal base,” sizable grey economy that reduces the fiscal base,

weakens public budget performance and disrespect for the rule of lawweakens public budget performance and disrespect for the rule of law

�� Still bureaucracy, needs a cultural transformation in public administrationStill bureaucracy, needs a cultural transformation in public administration

However we still have issues to be sorted out in our sectorHowever we still have issues to be sorted out in our sector

�� Potato StoryPotato Story�� Industrial PotatoIndustrial Potato

– Annual Potato production in Turkey is 5.3 million tons, only 120 thousand tons areindustrial potato varieties (FLT ’05 usage : 60 thousand tons). 2% compared to 62%in USA, 57% in UK, 53% in Holland & 58% in Germany

�� Certified SeedCertified Seed– Certified Seeds are required to protect the soil from diseases, improve field

productivity, and deliver high yield from the potato. In 2005 Turkey needed 62thousand tons of elite seed for seed multiplication to have certified seeds, butMinistry of Agriculture’s quota was 10 thousand tons only (FLT for the first timeawarded with 1500 tons that secures our 06-07 season potato needs)

�� Contracted FarmingContracted Farming– Contracted potato farming practice secures the farmers. However, only 9% of potato

farming in Turkey is contracted compared to 85% in USA and 77% in Holland.

�� Conscious Agriculture Conscious Agriculture requires to haverequires to have– Soil Analysis to prevent disease and identify required fertilizer usage– Seed/Fertilizer/Chemicals balanced and controlled use– Crop Rotation to protect the fields from disease and improve

productivity….unfortunately due to lack of resources of ministry and education offarmers the control is very poor…resulted in Synchitrium Endobioticum (potatocancer) disease in well known potato farming areas of Derinkuyu and Kaymakli.Unfortunately is now spreading out due to weakness of quarantine measures.

�� Temp. & Humidity Controlled Storage CapacityTemp. & Humidity Controlled Storage Capacity– Fresh chipstock is available from June to October then it is the storage period when

temp & humidity controlled storage required to protect the quality and yield of thepotatos. In Nevsehir area there are primitive cave stores used for this purpose. FLT &suppliers have build and renovated 35 thousand tons of modern storage area &continue to build as required. ./..

However we still have issues to be sorted out in our sectorHowever we still have issues to be sorted out in our sector

��Barriers on Seasonal ImportationBarriers on Seasonal Importation– The end of the storage season April-May is critical for the stored potato

quality and yield performance in industrial production. Current industrialvarieties have low performance. During this period we need to haveimported potato. Though by law potato importation is not banned.Ministry applies all bureaucratic barriers not to give importation permit.The recent application resulted in having permission on May 12thThursday valid till May 15th Sunday ! Is this a joke? Still we can importfinished packed potato chips from our sister companies in Europe. Thisyear we imported 1,000 tons of finished products from Spain.

��Customs & Quarantine regulations not in line Customs & Quarantine regulations not in line w/Ew/EUU– Unfortunately we have not adopted yet EU regulations in our Customs

and Quarantine procedures both for elite seeds and theoretical potatoimports

��Government Incentives for Industrial Potato AgroGovernment Incentives for Industrial Potato Agro– Though Ministry is talking about Government incentives for Industrial

potato farming still not walking the talk!

��Subsidization will be removed on the road to Subsidization will be removed on the road to EUEU��Price & Quality Competitiveness for Turkish PotatoPrice & Quality Competitiveness for Turkish Potato

– Unfortunately both price and quality references are way below comparedto European and Middle Eastern standards in industrial potato. (Detailedcomparison can be provided for the interested parties)

ConclusionConclusion

�� We offerWe offer�� Assured Quality Elite Seed importation to be planted for certified seedAssured Quality Elite Seed importation to be planted for certified seed

multiplicationmultiplication

�� Specialist support & training for quality Certified Seed productionSpecialist support & training for quality Certified Seed production�� Technical support to farmers for conscious agricultural practicesTechnical support to farmers for conscious agricultural practices�� Technical & financial support to develop model industrial potatoTechnical & financial support to develop model industrial potato

farmingfarming�� At Contracted farming, guarantee for purchase and incentives forAt Contracted farming, guarantee for purchase and incentives for

quality improvementsquality improvements�� Exports of quality potato chips and competitive industrial varietyExports of quality potato chips and competitive industrial variety

potatopotato�� Pioneering to develop modern warehousing and handling equipmentPioneering to develop modern warehousing and handling equipment

and handover to suppliers within timeframeand handover to suppliers within timeframe�� Cooperation with public sector to provide training abroad at Frito LayCooperation with public sector to provide training abroad at Frito Lay

best practice farming implementation techniquesbest practice farming implementation techniques�� Cooperation with Universities to develop agricultural protection andCooperation with Universities to develop agricultural protection and

quarantine labsquarantine labs�� Scholarships to talented Agricultural Faculty students abroadScholarships to talented Agricultural Faculty students abroad ./.. ./..

ConclusionConclusion

�� We expectWe expect�� Elite seed importation and quarantine requirements inElite seed importation and quarantine requirements in

compliance with compliance with EUEU regulations regulations

�� Removal of all quotas on Elite seed importationRemoval of all quotas on Elite seed importation

�� EUEU regulations at seed approval and certification procedures regulations at seed approval and certification procedures

�� Removal of barriers on seasonal industrial potato importationRemoval of barriers on seasonal industrial potato importation

�� Government incentives for industrial potato farmers andGovernment incentives for industrial potato farmers andexportersexporters

��““Walk the Talk” link the vision, legislation toWalk the Talk” link the vision, legislation toexecution. Focus on Cultural Transformation at stateexecution. Focus on Cultural Transformation at statedepartmentsdepartments