Cadbury Schweppes has refused to be drawn on reports that it is ready to invest EUR270m (US$381m) in Eastern Europe.

Cadbury, the world's largest confectioner, has embarked on a worldwide restructuring programme, a strategy that will see factories closed and jobs cut.

However, reports in the UK claimed today (26 September) that Cadbury is prepared to spend EUR270m on a new candy factory in either Poland or Slovakia.

Nevertheless, Cadbury stayed tight-lipped when questioned about the reports. "We don't comment on speculation," a Cadbury spokesperson in London said. "This is a global programme over four years and we have any announcement to make - in terms of either investment or efficiencies - we will communicate that to our employees first."

Last week, Cadbury said it plans to close a candy manufacturing site in New Zealand.

In June, Cadbury said it would axe 15% of its workforce as part of a global cost-cutting drive that it hopes will reshape the business.

Cadbury also plans to close 15% of its manufacturing facilities around the world over the next four years.