Tnuva Romania dairy producer, local subsidiary of Israelicompany of the same name, has cut its losses by 25% last year, from104.6 RON (28.4 million euros) in 2008 to around 78 million RON(18.5 million euros) after making around 250 people redundant andcutting distribution costs.
"In 2009 Tnuva adjusted its strategy to cut losses and boost itsEBITDA. This was reflected both in its brand strategy andthroughout the entire organisation, and translated into cost cutsacross the company, mainly in distribution. In 2009 we cut lossesby around 25% against 2008," said Adriana Ionescu, marketingmanager of Tnuva Romania. The dairy producer last year posted an89.9 million-RON (21.2 million-euro) turnover, up by less than 1%in RON (a 12% decline in euros), compared with figures recorded twoyears ago, when the company had an 89.1 million-RON (24.1million-euro) turnover.
According to ZF calculations, Tnuva Romania made around 250 peopleredundant and currently has around 300 employees.
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