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Panda thrives further as an independent
company with a new ownership structure
(Panda 18.9.2000)
MB Funds has acquired the business and assets of Oy Panda Ab from the Norwegian Rieber & Son Group. MB Funds has a solid capital base with the most significant Finnish insurance and pension companies as its investors. Through the transaction Panda will become the biggest confectionery company in Finland that is fully in Finnish ownership. The Business will be taken over with effect from 30 September 2000, depending on approvals needed from the authorities.
The prospects for the Panda business and personnel look very promising. All the employees will be resumed by the new owner.
Panda will focus its operations primarily to strengthen its market positions in licorice and chocolate products in Finland. In export Panda will concentrate on Panda licorice, that already has a strong foothold on several export markets.
During the year 2000 Panda's sales and market position in Finland have shown a positive trend. The launch of the new licorice products has been successful. The total volume of licorice products has increased several years in a row. Export sales has shown a positive development with the new, more focused product assortment.
The major investments in production have yielded positive results and in terms of productivity our performance has shown a remarkable improvement compared to the level previous years.
OY PANDA AB
Erkki Pellinen Managing Director
For more information contact:
Managing Director Erkki Pellinen, tel. +358 14
4469 211
Deputy Managing Director Risto Jämsén, tel.
+358 14 4469 211
More information available at
www.panda.fi