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Campbell's Leaves Russia
29.06.2011 13:14
Campbell's Leaves Russia

American producer of canned soups Campbell Soup Company, closes its Russian branch. 

      As a result, about 50 employees of company's office in Moscow will lose their jobs. 

      According to Denise Morrison, CEO-elect and Campbell Chief Operating Officer, the results in Russia didn't live up to their expectations. "We believe that opportunities currently under exploration in other emerging markets, notably China, offer stronger prospects for driving profitable growth within an acceptable time frame", said Denise Morrison. 

      In 2007 Campbell's Soup unit have been opened not only in Russia, but in China as well. Chinese Campbell will not stop operating.

Author: Ksenia Dzhalagonia

Tags: Russian business     

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