Talosto freezes frames

The company explained that staff reduction is due to financial difficulties: in particular, "Talosto" failed to completely roll over credit Banque Societe Generale Vostok (BSGV). In addition, in March 2009, the company will repay the bond loan of 1 billion rubles. The sale of the business international players who was expected to fall this year and could solve the financial problems of the producers of frozen food, has been postponed indefinitely, analysts say. GC Talosto founded in 1992 as a distributor of ice cream. Currently integrates manufacturing plant frozen food and Test Talosto (St. Petersburg), Talosto-Volkhov (Leningrad region), Ozersky Dairy Plant, "Proviz, Podolsky Khladokombinat (Moscow Region)," Talosto-Mines. " Parent company of the group - JSC "Talosto, it is owned by Alexei Abrosimov (50%), Yuri Dementiev (25%) and Alexei Vlasov (25%). In 2008, the company's turnover is expected to reach 162 million dollars Totally "Talosto" cut about 400 people, told RBC daily financial director of CJSC "Talosto Alexander Pikunov. According to him, the company is currently looking for ways to refinance debt, the amount of which was not disclosed. Mr. Pikunov noted that "Talosto" failed to completely roll over credit BSGV. Previously reported that in late 2007, the company received from the St. Petersburg branch BSGV short multi-currency loan at 11.3 million dollars According to the Acting Director General BSGV branch in St. Petersburg, Yegor Andriyanova, repayment of principal debt "Talosto" to the bank account in 2009. He stressed that the bank is willing to seek flexible solutions that enable "Talosto" to cope with current difficulties. Meanwhile, according to Mr. Andriyanova, Talosto, like any other company in crisis, it is necessary to work to improve internal efficiency and better management of debt load. In addition to loan repayment, 6 March 2009 "Talosto" must repay bonded debt of 1 billion rubles. According to Mr. Pikunov, currently in circulation are bonds by about 600 million rubles. The financial problems of the group might decide to deal to sell the business to international player. A year ago, the main contender for the purchase of "Talosto" called one of the world's largest food company Nestle. However, the fall appeared that buy Talosto "want to Croatian Agrokor and international holding company Unilever, previously bought Inmarko. Amount of the deal experts evaluated in the $ 145 million According to the analyst UK "Finam Management" Maxim Klyagina, in the current unfavorable conditions of the company's value can be adjusted to 0,6-0,8 annual revenue (excluding debt).