BUSINESS SHORTS

Friesland confirms it is pulling out

THE DUTCH food producer Friesland Foods has confirmed that it is closing its dairy in Nitra and winding up its activities on the Slovak market, the Hospodárske Noviny daily wrote.

This move will lead to the loss of 160 jobs, while farmers who supply the company with milk will also face problems.

According to Friesland's Branislav Matliak, the main reason for the move is that the company expects that it "will not be able to achieve first or second place on the Slovak market."

Other reasons include inefficient production and long-term losses. The company lost Sk248.6 million (€7 million) last year, while the year before it was Sk108 million in the red.

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