Coca-Cola Hellenic Restructures Greek Business
February 29
12:00
2012
Coca-Cola Hellenic is to close two of its five production plants in Greece in a bid to cut costs and adjust to falling sales. The company’s sales volumes in Greece declined by 12% in 2011, impacted by the ongoing recession and austerity measures in the country.
Coca-Cola Hellenic is shutting its bottling plants in Thessaloniki and Patras and switching production to its other sites in Greece. However, distribution centres will be retained in Thessaloniki and Patras.
CCH, which has the Coca-Cola franchise for 27 countries in Europe and also in Nigeria, reported a 27% drop in net profit to Eur330 million for 2011, with sales volume down 1% to 2 billion unit cases.
