Wednesday, 10 February 2010
The news that Kraft is now going to close Cadbury’s Somerdale factory just outside Bristol comes as no surprise to some of us. However, to the workers who were assured by Kraft that it would keep the factory open if it succeeded in taking over Cadbury, this hasty about turn is a cruel blow.
Kraft took over Cadbury last week and assured the workers and investors that it would do its best to keep the factory open and the 400 jobs of those who worked in it. What a difference seven days can make. Did Kraft ever have any intention of doing its best to keep the factory going or was it just the lies of a spiv eager to get its greedy hands on a well-loved British company? I think we know the answer to that one, don’t we?
Cadbury itself doesn’t come out of this whole sorry mess with any honour either. It was Cadbury’s board that made the decision to invest £100 million in new production facilities in Poland, thus increasing the pressure on the Bristol factory.
Last week Cadbury’s boss Todd Stitzer was criticised by the unions when it emerged he would personally make £30million from the deal. Stitzer also cashed in stock options worth £4.6million. He acquired 1,363,520 shares at £5.03p each, selling them for £8.41p a share. Perhaps Mr Stitzer will be distributing some of his thirty million pieces of silver amongst the workers of Cadbury’s Somerdale factory.
I shall now to take great pleasure in boycotting goods made by Kraft. It shouldn’t be too hard. I wouldn’t buy Hershey chocolate, Dairylea cheese triangles or any of the other unappetising chemical concoctions that Kraft tries to peddle in the UK. As for chocolate, well there’s plenty of great Swiss, German and French confectionery to be had.