GREECE: Coca-Cola Hellenic to consolidate Greek operations
Production will cease at Coca-Cola Hellenic's Thessaloniki and Patras facilities
Coca-Cola Hellenic Bottling Co is to close two of its Greek bottling plants to save costs in its crisis-hit home country.
The Athens-based bottler, which is active is 27 European countries, confirmed to just-drinks today (29 February) that production will cease at its Thessaloniki and Patras facilities in Greece, as part of a cost-cutting initiative.
The move is expected to affect around 30 jobs. However, the spokesperson said the company is currently in discussions as to "best options" for the staff affected.
She added: "Operations will be consolidating in order to improve efficiencies." Production will move to the company's three remaining plants in Greece, located in Schimatari, Volos and Heraklion.
In a statement, the company said: "The plan to consolidate [CCH's] operations is the result of weakening purchasing power in Greece, which has led to a continuous decrease in sales, especially over the past three years."
Earlier this month, the company warned that 2012 offers "uncertainty and volatility" as it posted tumbling profits and flat sales for 2011. The company blamed the impact of input cost pressures and currency volatility across all of its territories for the declines. Greece is now in its fifth year of deep recession and struggling to revive a faltering economy.
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