Russia's largest brewer, OAO Baltika Brewery , Monday forecast its exports to Germany in 2003 will exceed the 1.25 million liters exported in 2002
Published:
13 August 2003 y., Wednesday
Russia's largest brewer, OAO Baltika Brewery , Monday forecast its exports to Germany in 2003 will exceed the 1.25 million liters exported in 2002.
Baltika, which is owned by Baltic Beverages Holding , said it has already exported over 1 million liters to Germany in the first seven months of this year.
Baltika, which is owned by Baltic Beverages Holding , said it has already exported over 1 million liters to Germany in the first seven months of this year. Baltika manages its exports to Germany through a fully owned subsidiary, Baltika Deutschland GmbH, set up in 2002.
An exports boost is necessary for Baltika, which experienced a 10% sales decline in the first quarter of the year, twice the rate of the market decline, Brunswick UBS analysts said.
Baltika has also been looking for new export markets and has launched exports of nonalcoholic beer to Iran. It also started to sell its lager in the U.K. pubs owned by its shareholder Scottish & Newcastle PLC .
An increase in exports is also good for Baltika's revenue, as Baltika sells a pint of its beer for about EUR3 in Germany and the U.K., compared with around EUR0.5 a pint in Russia.
Baltic Beverages Holding is a joint venture of Scottish & Newcastle and Carlsberg A/S.
Šaltinis:
Dow Jones Business News
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
New legislation for pan-European supervision of credit rating agencies and a public debate on how financial institutions are managed.
more »
On 2 June in Vilnius, Lithuania‘s Vice-Minister of Foreign Affairs Asta Skaisgirytė Liauškienė and Deputy Director General of the World Trade Organization Rufus H. Yerxa discussed the main issues on the international trade policy agenda, Russia‘s WTO accession and the changing role of China in the world economy.
more »
2157 former construction workers in Spain and 598 ex-employees at the Irish crystal glass company Waterford Crystal with suppliers could get €11 million in EU globalisation adjustment fund aid for training, self-employment and professional orientation under plans approved by the Budgets Committee on Wednesday.
more »
Companies from the UK, Belgium, Germany and Spain have won the 2010 European Business Awards for the Environment.
more »
The planned overhaul of EU fisheries policy should devolve more powers to regions, protect small coastal fleets and boost aquaculture, said MEPs and members of national parliaments on Tuesday.
more »
The first in a series of loan agreements for energy efficiency investments in multi-apartment buildings was signed today between the European Investment Bank (EIB), as manager of the JESSICA holding fund in Lithuania, and Šiaulių bankas.
more »
Despite the current economic crisis and tensions in the euro, Estonia is set to adopt the single currency in January.
more »
Commission proposes a bank tax to cover the costs of winding down banks that go bust.
more »
The European Investment Bank will provide a total of EUR 400 million to Hellenic Petroleum SA in order to increase the production of cleaner fuels via the upgrading of the Elefsina refinery.
more »
European ministers meet on Tuesday and Wednesday in Brussels at the final Competitiveness Council to be held during the six months of the Spanish Presidency, which has an agenda laden with important issues such as the electric vehicle, the European patent system and national R+D investment goals.
more »