RUSSIA: Baltika to invest US$18m in Tulskoye Pivo
Russian brewing group, Baltika, is planning to invest some US$18m in the modernisation and expansion of its Tulskoye Pivo brewery. The company has already invested around US$67m in the brewery in the Tula region. It is also considering building a malt production plant in the region. Production at Tulskoye Pivo reached 343m litres in 2001 against 157m litres in 2000. Earnings were up 160% to Rub3.3 billion. At the end of last year, the company had a 5.6% market share, up from 2.9% in 2000. Baltika acquired its controlling stake in Tulskoye Pivo in November 1999.
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