Kraft have proved they lied about their intentions after their hostile takeover of Cadbury, according to a report issued today by the Business, Innovation and Skills Committee.
Back in September 2009 when Kraft began it's hostile takeover, it released a statement about the Cadbury plant near Bristol saying, "We believe we should be in a position to continue to operate the Somerdale facility." Kraft then reiterated this commitment in its offer document to Cadbury shareholders in November.
Yet no sooner had Kraft taken over Cadbury, it announced it would close the plant and move production to Poland, with the loss of 400 jobs. The boss of Kraft, Irene Rosenfeld, was also condemned in the report for not attending to give evidence."Irene Rosenfeld's attendance would have given an appropriate signal of Kraft's commitment to Cadbury in the United Kingdom," the report concluded.
The report added: "We conclude that Kraft acted both irresponsibly and unwisely in making its original statement that it believed that it could keep the Somerdale factory open."
Kraft - you are a bunch of asset grabbing liars! (I'll keep boycotting Kraft foods)
Business is business
ReplyDeleteUnfortunately, to boycott a buisness just because they lied, you'll starve to death.
ReplyDeleteNot long ago, Hershey's in PA closed their last chocolate processing plant. To move to Mexico.
The plant I worked for (Corning) closed their plant here in Hickory last year. To also move to Mexico. Notice a trend here?
Kraft owns a LOT of stuff.... I suspect you spend a lot of time reading labels at the grocery store......... ;)
scratch
I know what you mean, but thankfully I'll still eat - even if I make a conscientious choice too avoid Kraft products as much as possible.
ReplyDelete