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Freiburg dairy processor Cremo is in crisis. He wants to fix his financial woes with a comprehensive restructuring program. And so tighten your belt. To be specific: the company plans to save at least 23 million Swiss Francs. And in these three years. The immediate action is the closure of the Lyss BE site.
This was announced by the Chairman of the Board, Georges Godel (71), at a press conference held at the company’s headquarters in Villars-sur-Glâne FR. Five employees were affected by the closure of the dairy and cheese factory in Seeland, Bernese. Requires a value adjustment of over CHF 8.7 million. The measure complements the previously announced early closure of the Lucens VD site with 38 employees at the end of May.
The dairy company has been in the red for several years. Although sales increased by 3.4 percent to 512.8 million francs in the 2022 fiscal year, it had a deficit of 21.5 million francs. Equity shrank by 30 percent. In 2021 it was minus 2.9 million CHF.
“The financial situation is worrying,” said Gödel, former Freiburg State Councilor. But he was confident the company could turn things around with a three-year restructuring program called “Cap 2027.”
The Chairman of the Board of Directors sees three areas in particular. Industrial facilities that are obsolete and prone to malfunction will be modernized. In the field of management, the operation and complexity of the company must be precisely recorded. In addition, trust must be fully restored within the board of directors and between the supervisory board and management.
According to Gödel, the group, which has around 600 employees, plans to invest tens of millions of francs over the next few years to turn the tide, particularly in the production of cheese, dairy products and butter. No layoffs are planned at this time.
Cremo made headlines for the last time in May. The scammers used fake emails to order 32.7 tons of Swiss cheese, but then the trace disappeared. Cremo lost 450,000 francs. The cheese is said to be sold in England. A complaint from the milk processor Cremo reached the Freiburg prosecutor’s office. (pbe/SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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