July 5, 2011

Caroli Foods closes factory

After shutting down one of its two factories, Romanian meat processing company Caroli Foods Group will retrench all of its 170 workers from the affected factory, according to the media on Monday (Jul 4).

The decision to shut down the factory, located in the southeastern town of Tulcea, was taken considering the economic conditions and the unfavourable environment in the meat processing industry which has been affected by the lower purchasing power of the population, the media said.

The factory in Tulcea has an annual production capacity of 11,000 tonnes. The remaining factory in southern town of Pitesti has a production capacity of 36,000 tonnes per year.

Dutch-based Caroli Foods Group BV holds 99.43% of Caroli Foods, according to the information from the Romanian Trade Register. Individual shareholder Khaled El Solh owns the remainder, the media said.