Altia said wine demand has not grown

Altia said wine demand has not grown

Altia is seeking to relocate its wine production from Denmark to Finland after demand in northern Europe failed to meet the company's expectations.

The Finnish company, which this month agreed to buy Larsen Cognac from Rémy Cointreau, said it will meet with Danish staff today (13 September) to discuss a move. About 100 employees at Altia's Svendborg plant in Denmark would be affected by the move to Rajamäki, about 30 miles north of Helsinki.

In a statement yesterday, Altia said: “The main reason for possible relocation is the current idle production capacity of Altia bottling plants. The demand of wines has not grown on the market as expected.”

Altia blamed a “challenging” market market situation in Nordic and Baltic countries and increased competition for the shortfall in demand for wine and the Scandinavian mulled wine glögg.

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