American consumer goods manufacturer Bunge Ltd. will shut down the edible oil plant Dobrich, Bulgaria, the Sofia News Agency reported.
Bunge Ltd. will move production to Romania. This information contradicts the previous company announcement, which said the company would relocate its factory to Hungary and Ukraine. The final decision was made for low revenues and market opportunities, as well as demanding environmental requirements. „No decision has been made so far. We are at a consulting stage,” said Michael Whitney, general manager of Bunge Romania.
Following this action, 204 Bulgarian workers will loose their jobs. The Bunge Group, based in New York acquired Kaliakra in 2002. The group is currently present in more than 30 countries worldwide, and owns 400 companies.
According to Tsvetan Iliev, general manager of the production center in Dobrici, quoted by the Sofia-based news agency Novinite, Bunge will only keep its cereal production facility in Bulgaria, with the decision to relocate the plant being prompted by the unsatisfactory financial results witnessed at the plant in Bulgaria, by the limited opportunities of the market, and by the environmental standards, which do not comply with the European norms.