Fazer Bakeries Looking For Baltic Expansion

12 May 2010 - Finnish bakery and confectionery confectionery, delicacies or sweetmeats that have sugar as a principal ingredient, combined with coloring matter and flavoring and often with fruit or nuts. In the United States it is usually called candy, in Great Britain, sweets or boiled sweets. firm Fazer is planning to expand with an aim to become the leading food company in Latvia and other Baltic states Baltic states, the countries of Estonia, Latvia, and Lithuania, bordering on the eastern coast of the Baltic Sea. Formed in 1918, they remained independent republics until their involuntary incorporation in 1940 into the USSR. They regained their independence in Sept. .



In Latvia, the company, which reported 17.3 million lats (24.6 million euro) in consolidated unaudited sales last year, has a 23% market share. Fazer Maiznicas bakery is the second largest bread producer in Latvia, while Fazer Amica with its 36 restaurants and cafes is one of Latvia's leading caterers.

"We will spend time this year mainly reinforcing the newly created business structure and current market position. This will be our launch pad for expansion in the region", commented Fazer CEO  (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Karsten Slotte.

Fazer Group's turnover for 2009 was over 1.4 billion euro. The Group employed about 17,000 people in 2009.

 

Popular brands from Fazer group of companies ( bakery ) are Oululainen, Skogaholm, Hlebnyi Dom, Druva and Gardesis.
 
Source
http://www.flexnews.com/