Mexican baked goods company Bimbo has closed its chocolate factory in Vienna, Austria due to high operating costs and fierce competition in the European market.

Bimbo's European operations will now be focused on its factory in Ostraba, Czech Republic, reported El Economista.

This year, Bimbo plans to continue to focus on reducing administrative costs and boosting sales.

The company, which acquired the bakery operations of George Weston last year, also said it would focus on consolidating its operations rather than making new acquisitions in 2003.