Cadbury Romania to recoup financial losses in three years

Cadbury Romania, owner of confectionery producer Kandia-Excelent, wants to recover last year’s losses, worth 1.5 million euros (5.1 million RON), within 3 fiscal years, according to information published in the Official Gazette. Kandia-Excelent, which was taken over last year by UK-based Cadbury, slipped into the red in 2007, after the company reported net profit worth 7.6 million euros (27 million RON) in 2006. Cadbury announced the name change from Kandia-Excelent to Cadbury Romania, as well as a few structural changes in the Official Gazette. In the management structure, new jobs have been created in departments such as human resources, logistics and sales, whilst others have been dropped. The company also launched a production reorganisation strategy and will invest 13 million euros in a new facility located at the Bucharest headquarters. According to Jose Bonito, country director of Cadbury Romania, the inauguration of a new plant on Soseaua Viilor in 2007 doubled the company’s production capacity and allowed it to upgrade its production lines. Following this investment, Kandia-Excelent’s old production facility, also on Soseaua Viilor, has been turned into an office building.