Stefanos Krommydas, general manager of Titan bakery producer,controlled by Raiffeisen group through Austria's LeipnikLundenburger Invest (LLI) company, believes that a 3% decline ofthe Romanian economy this year is an upbeat projection. Thecompany's manager says that as regards the black market, one of themain problems the bakery industry is coping with at present, Gvt.measures have only helped it expand. The steps the managermaintains he took in H1 amid the crisis include moving employeesfrom the manufacturing of a less wanted product to others boastinghigher sales, as well as the outsourcing of various services, sucha cleaning. "(…) Being on the market and keeping market sharesbecame our core objective, and if we had to sacrifice profitmargins, we did it. We even engaged in restructuring moves whennecessary," stated Krommydas, without providing further details. Hesays that despite people buying ever more cheap products, Titan'smarket shares haven't suffered. "This is why the marketing budgetwill be five times bigger in October 2010-September 2011 from ayear ago," Krommydas also said. Moreover, he says Titan will have a3m-euro investment budget for the same period.
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