The Candy household appliances plant in Russia will be closed due to low profits – Kommersant
[ad_1]
The Chinese manufacturer of household appliances Haier, which owns the Russian legal entity of the Italian brand Candy, has decided to close the enterprise. About it reported Kommersant sources. The decision was made due to the fact that since February 2022, the revenue of the Candy plant began to fall.
Factory LLC “Kandy S.N.G.” is located in Kirov. The products produced by the company were also intended for the European market. However, market participants say that Candy’s production lines are outdated. The company may be sold at the price of real estate or go bankrupt.
Against the backdrop of declining demand and increased competition from cheaper Chinese and Russian brands in April, the Candy plant in Kirov suspended work. As a local official told Kommersant, Candy lost 15% of its profits due to exchange rates alone.
More details in the material “China will take Candy away from Russia”.
[ad_2]
Source link
