CEO says ruble depreciation favorable for Bonduelle in Russia - Consumer Goods & Retail - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

CEO says ruble depreciation favorable for Bonduelle in Russia

MOSCOW, Feb 4 (PRIME) -- French producer of canned foods Bonduelle has improved its position in Russia as the rubleТs depreciation made the company localize production and protect its products from competition with imports from Canada, Hungary, and China, Bonduelle Group CEO Guillaume Debrosse told PRIME on Monday.

УWe have learned to live with this new rubleТs rate, and the situation obliged us to create a more localized production as we produce 70Ц75% of products at a local market. Thus, we can even say that we are winning from countersanctions. A good example is the fact that the weakening of the ruble protected us from imports from Canada, Hungary, and China. This is one of our protection methods,Ф he said.

Bonduelle, operating in Russia since 1995, produces about 280 million cans of preserved foods per year, or about 85,000 tonnes of canned products.

End

04.02.2019 13:58
 
 
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