Karsten Slotte, CEO of Finnish-Swedish confectionery producer Cloetta Fazer, said that the company will increase the size of its operations by 23% by the end of next year, by completing a series of takeovers. Slotte added that while the company must increase its profit margins to 12% by the end of 2003, its capital is large enough to secure takeover bids, which it aims to make in the Nordic region, Poland and the Baltic countries.