Coca-Cola Hellenic to end production at two units

Not flowing from the shelves: Coca-Cola products on display in a kiosk fridge (Eurokinissi) Coca-Cola Hellenic, Coca-Cola's No.2 bottler worldwide, is to stop production at two of its five plants as part of cost cuts to deal with a protracted recession.   Athens-based CCH, which is active in 27 countries in Europe and also in Nigeria, said it would move the production of its plants in Thessaloniki and Patras to its other units - in Schimatari, Volos and Irakleio -  but would keep its distribution centres, sales offices and other services in the two cities.   CCH, Greece's biggest company by market value, has restructured operations to deal with weak demand in many of its markets over the last three years, but particularly in Greece, now in its fifth year of deep recession and struggling to revive a shattered economy.   Sales volumes in Greece, one of the company's biggest markets, fell by 12 percent in 2011, hit by higher VAT and sweeping wage cuts that sharply reduced consumer spending.   It said the move would affect 30 workers, who will be offered early redundancy or retirement, and was part of the company's cost-saving efforts.   "We have been doing restructuring in other geographies and with the reality in Greece, we are doing it here as well," CCH investor relations director Oya Gur told Reuters.   Last year, CCH's net profit dropped 27 percent to 330m euros, with sales volume down 1 percent to 2 billion unit cases.   The company has said it will continue its saving initiatives this year, an effort that will cost about 50m euros and is seen producing annual benefit of 35m euros from 2013 onwards. (Reuters)