Wednesday, 19 December 2007

Unite warns hedge fund

Straight lift from the Unite website:

Stop destabilising Cadbury's business, Unite tells hedge fund and Qatar
19 Dec 2007

Angry Cadbury workers today demanded that hedge fund boss Nelson Peltz and the Qatari state investment fund stop interfering with Cadbury Schweppes, accusing Peltz of creating an environment in which British jobs are being put at risk.

Unite national organizer for the food industry Brian Revell charged that statements by Nelson Peltz about 'becoming more active as a large shareholder' in Cadbury's affairs were destabilising the company.

"Nelson Peltz and his Qatari friends are interested only in the short and medium term profits they can squeeze from Cadbury Schweppes, " said Brian Revell. "He has no concern for the workforce or their communities. The state of Qatar and Mr Peltz have no business interfering in the affairs of an iconic British company like Cadbury's. We believe that company's directors must stand up to Mr Peltz and his Qatari friends.

"At the time when this unwelcome interference is taking place, we are faced with an outrageous plan to close Cadbury's Keynsham factory near Bristol and transfer production to Poland. There is no doubt that this plan reflects the approach of vultures like Nelson Peltz, and Cadbury's must reconsider the proposal before it damages the market share of a popular British product.

"The idea that Britain's traditional chocolate should be freighted into the UK from Eastern Europe is an attack on everything agreed at last week's Bali climate conference."


Further information: Brian Revell 07976 845352
or Unite press office on 020 7611 2550

Unite was formed on 1st May 2007 through a merger of amicus and the Transport and General Workers Union (T&G)

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