KELLOGG'S takes a lot of pride in having centralised the treasury function for its extensive European operations. The synergy achieved in this process has helped the group maintain a favourable position in the face of mounting competition in all its key markets. The centralising process was extended and challenging, largely because of the size, range and diversity of Kellogg’s European business. It has consolidated European revenues of $1.7 bn from companies in fifteen European countries: all of the EC except for Greece, plus Norway and Switzerland. Establishment of a new Polish unit has been under way since last year.
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