26 June 2008 - France's leading frozen bakery product manufacturer Panavi, which was acquired by Belgian food group Vandemoortele earlier this month, will be closing its Romans-sur-Isère (Drôme department) factory in August.
According to local media, Panavi believes that the facility is no longer profitable. It is also understood that the plant’s 63 workers will be made redundant.
Group Panavi supplies its frozen breads and pastries to retailers and wholesalers throughout France. It has 22 factories, employs over 2,000 people and posted an annual turnover of 307 million euro in 2007.