Dairy giant boosts its Greek baby formula supplies
A spokesperson for the Dutch company, the largest dairy processor in Greece, said that its 450 employees based in the crisis-hit country were paid in advance last week in order to ensure continuity of supply.
“We are holding more stock of child nutrition and condensed milk,” spokesman Jan-Willem ter Avest told Reuters. “We took that decision ... to ensure supply to consumers as we expect people will want to buy more and keep it in stock.”
Greece imposed capital controls on Monday after talks with creditors broke down, sparking long queues at banks and forcing authorities to impose a daily €60 cap on withdrawals.
With annual revenues of more than €11 billion, FrieslandCampina is one of the top five dairy companies in the world.
It has been present in Greece since 1929 under its NoyNoy mark, the largest dairy brand in Greece.
