Polish vegetable and cooking oils processor Kruszwica is to receive a cash injection of US$15m from its food-processing parent Cereol, according to Cereol’s VP Evert Van Korlaar.
Go deeper with GlobalData
Korlaar explained that a large part of the investment, coming on top of US$30m already given to Kruszwica, would go towards a new refinery and bottling facility to more effectively face EU competition.
“All our investments are based on increasing capacities and efficiencies,” he told reporters, adding that the company should end up with one of the most modern plants in Europe.
Korlaar warned however that increasing efficiencies means further lay-offs in the company’s H2, as well as new facilities. Currently, the company employs 720 workers.
Kruszwica recently signed a deal worth PLN 90m-a-year (US$22.2m) with Unilever Polska to transfer sales of its consumer margarine product to the local arm of the Anglo-Dutch consumer products giant while retaining production.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
