PepsiCo IVI has announced the closure of its water-bottling plant in Loutraki of Korinthia. The company explained that it decided to close the plant, due to the significant slump in sales and the increased damages incurred over the past years.

PepsiCo IVI said that it would compensate to the full extent the 20 employees who wish to leave, while offering positions at the company’s plant at Oinophyta to the rest. The annual production for 2012 was 3.9 million cases, down from 8 million cases a few years ago.