aA
The Lithuanian subsidiary of former Ukrainian President Petro Poroshenko's confectionary giant Roshen slashed down production and laid off two-thirds of its workforce as it continued to operate at a loss last year, the business daily Verslo Zinios reported on Thursday.
Confectionary giant cuts production and lays off workers
© Shutterstock

"The Klaipeda factory is part of the international group Roshen's network of factories, and production at the corporation is planned at the group level," it quoted Roshen Nord CEO Zilvinas Urbonas as saying.

"Last year, it was decided to reduce the Klaipeda factory's production output for a number of reasons, including the efficiency of equipment and labor costs," he said.

The caramel factory in Klaipeda saw its annual loss soar to 333,500 euros in 2018. Roshen Nord, which has been operating in the red since 2011, has an accrued loss of 2.6 million euros, according to the Center of Registers.

The company's revenue came in at 5.78 million euros last year, down 37 percent from 9.26 million euros in 2017.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
|Populiariausi straipsniai ir video

Checks of foreign truck drivers tightened

Lithuania has further tightened checks of foreign truck drivers and, starting from Thursday, will...

Latakas wins competition for Klaipeda Port CEO

Algis Latakas , former production director at Klaipedos Juru Kroviniu Kompanija (Klaipeda Stevedoring...

Leading tech companies in Lithuania: we are displaying crisis immunity

Entrepreneurship and export development agency “ Enterprise Lithuania ” indicates that due to...

Finance Minister: every quarantine week shrinks GDP by 0.5 percent

Economists estimate that every week of the quarantine in Lithuania, introduced to slow the spread of...

Lithuania's Devold says could make 100,000 medical coveralls by late summer

Norwegian-owned Lithuanian textile manufacturer Devold says it could producer around 100,000...

Top news

School graduation exams planned in late June

School graduation exams are planned for late June, Lithuanian Prime Minister Saulius Skvernelis says.

Lithuanian scientists created tool for predictions of coronavirus spread

The number of infected people in Lithuania could exceed 3,000, while the spread of the virus will only...

Checks of foreign truck drivers tightened

Lithuania has further tightened checks of foreign truck drivers and, starting from Thursday, will...

955 coronavirus cases in Lithuania

On Wednesday morning Lithuania have recorded 955 COVID-19 cases in the country since the outbreak of...

Police fine 187 people for flouting lockdown rules

The Lithuanian police received 305 reports of quarantine violations over the past 24 hours and drew...

|Maža didelių žinių kaina