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US: Asconi completes Moldova vineyard planting

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Asconi Corporation, an Eastern European producer of wines and spirits, today announced that it has completed the planting of approximately 925 acres of vineyards in the central region of Moldova. The company planted primarily Cabernet-Sauvignon, Merlot and Chardonnay grapes, having purchased the region-adapted rootstocks from Vivai Marchi of Italy and Phillippe Dayde of France.

The vineyards are expected to produce the first harvest in the autumn of 2007 and reach full production capacity in 2009. Based on Asconi's preliminary estimates, once the company owns the source of primary raw material, the average cost per bottle of wine will decrease by 25% to 35%.

Asconi currently owns approximately 3,000 acres of premium land in the central regions of Moldova.

At present, Asconi said, the company continues to acquire vineyard land, as its long-term strategy is a step-by-step planting of vineyards until the quantity of grapes collected from the vineyards meet 100% of the annual grape needs of the company.


Sectors: Spirits, Wine

Companies: Asconi Corporation

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