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Dutch bakery supplies maker delays plant in Lubuskie


2012-04-25



CSM, a leading global maker of bakery supplies and food preservation and green chemicals, has been forced to postpone by at least two years a project to build a factory of frozen bakery products in Nowa Sol (Lubuskie voivodship), in the Kostrzyn-Slubice Special Economic Zone (KSSSE), originally scheduled to start operations this month, Nowa Sol mayor Wadim Tyszkiewicz told Puls Biznesu. The value of the investment, first announced in July 2011, is estimated at PLN 58m (approx. €13.8m). The plant was to employ 82 people.

Although a cornerstone-laying event was held in September 2011, the Dutch group subsequently decided to put the project on hold as it focuses on the restructuring of Classic Cakes, a troubled UK maker of cakes which it acquired in January 2011. However, CSM has rejected an offer from the KSSSE to sell the plot back to the zone and intends to fulfill its investment obligations within the original time horizon of three years, said KSSSE vice president Roman Dziduch.

According to earlier information, the 17,000 m2 facility could ultimately employ up to 250 people.

Headquartered in Amsterdam, CSM has 9,700 employees serving customers in 28 countries worldwide and generates annual sales in the region of €3bn. It is listed on NYSE Euronext Amsterdam.



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