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Journalism of Courage
Kraft Foods will be grilled by the British Parliamentarians this week on allegation that the American confectionery major made false promise to protect jobs in British chocolatier Cadbury,says a media report.
“Kraft executives will appear before the Commons business,innovation and skills committee to face questions over its decision to close the Somerdale plant near Bristol with the loss of 400 jobs,” The Sunday Times said.
In January,Kraft said it would takeover Cadbury in a cash-and-stock deal worth about 11.9 billion pounds.
“MPs will this week accuse Kraft,the US food group that bought Cadbury,of lying about promises to protect jobs,” the newspaper said.
The UK regulators are already investigating whether Kraft misled employees and investors during its battle to takeover Cadbury,which includes shutting down of Cadbury’s Somerdale candy factory in Keynsham.
The newspaper said that Kraft backtracked on repeated pledges made during its takeover bid for Cadbury that it believed it would be in a position to keep the plant open even though Cadbury had already said it would be shut.
“Kraft have always insisted that its pledges were made in good faith but proved to be unrealistic once it learnt more about how much of the plant had already been closed down by Cadbury,” The Sunday Times quoted sources as saying.
