Excelent: closing Kandia plant will boost profits

Chocolate producer Kandia announced it has given up its production unit based in Timisoara. The decision is one stage of the company's merger with another important player on this market, Excelent Bucharest. "Restructuring will not harm the turnover of Excelent-Kandia group. On the contrary, we estimate that, following the reduction of management and logistics costs, closing down the Kandia plant will raise the group's profits by 300,000-400,000 dollars per year," Sorin Alexandru, Excelent's general manager, explained. The decision led to the lay-off of 160 employees who will receive severance packages as agreed upon with trade unions. Production of Kandia has been transferred to Excelent production lines. The merger between the two producers has entered the final stage, with the publication of the merger project. ZF