Pambac: last year's losses from exchange and interest rates equals 2007 profit

However, Pambac still managed to end last year with earnings, although not significant, according to company officials. Pambac General Manager, Alin Giurea, added that he was forced to freeze salaries at last year's level, due to the financial crisis. However, the company was not forced to lay off personnel so far.
The international crisis is impacting on the local bakery products consumption, according to Giurea. This adds to a decline in bread demand in recent years. Meanwhile, consumers are focusing on cheap products.