Kraft Intensifies Cost-Savings Plans Amid Cadbury Bid

Kraft Foods Inc. highlighted on Wednesday its latest efforts to improve productivity and save on costs over the next two years, in a continued effort to make the case that it is in a strong position to engineer its bold takeover bid for Cadbury PLC.

The move comes days after Kraft's surprise £10.2 billion ($16.84 billion) bid to buy candy maker Cadbury, which rejected the offer as too low.

Kraft highlighted the steps it is taking to boost its margins, like cutting the number of suppliers it works with. The company also pointed to the turnaround efforts of the last three years, noting that it cut 19,000 positions between 2004 and 2008 as part of its restructuring plan. Kraft said it is focusing on faster growing brands in Europe and said the efforts will fuel margin expansion.

Read Full Article from Wall Street Journal

- Posted: 2009-09-09 10:40:23

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