Lännen Tehtaat, the Finnish food group, has said that it intends to increase efficiency at its fish products business by streamlining the unit’s organisational structure.
Go deeper with GlobalData
Lännen Tehtaat’s fish processing business is made up of Apetit Kala, which operates in Finland, and the Maritim Food Group, which operates in Norway and Sweden.
In an announcement to the Helsinki stock exchange on Tuesday (30 December), Lännen Tehtaat said that the head of Apetit Kala, the head of retail concept sales and the head of the Maritim Food Group will all report directly to Lännen Tehtaat CEO Matti Karppinen.
Additionally, the company said that it would eliminate a number of managerial positions, including the posts of director of the fish products business, the sales director for Maritim Food Sweden, the project manager for the fish products business and the project manager working at Lännen Tehtaat group management.
As a result of these measures, Lännen Tehtaat will recognise non-recurring expenses of about EUR500,000 (US$700,000) during the fourth quarter.
The projected costs savings are expected to improve the group’s operating profit by around EUR600,000 per year, starting in fiscal 2009.
Apetit Kala produces, markets and sells processed fish products under the Apetit and private-label brands. Maritim produces and sells fish, processed fish and shellfish products in Norway and Sweden under the Maritim, Sunnmöre, and own-label brands.
