Austrians give up pasta produced at Titan

Austrian bakery producer Leipnik Lundenburger Invest (LLI), controlled by the Raiffeisen group, which paid over 30 million euros last year for the local branch of the Greek group Loulis, gave up pasta manufacturing, an activity that generated less than 5% of its annual turnover. “We made this decision because we wanted to focus our resources on the company’s core activities, such as production of fresh pastry and bakery products and sliced bread. Pasta was not our area of expertise, and this division derived around 3-4% of Titan’s turnover,” said Stefanos Krommydas, general manager of milling and bakery producer Titan Ilfov, formerly Loulis Romania, No. 3 on the bakery market. Titan decided to outsource production of its Titan and Riva pasta brands to another local producer, without specifying its name.