Baltic Beverages Holding (BBH), the beer company jointly owned by Carlsberg and S&N, is planning to invest $200m in expanding its beer production in Russia during 2003, the company's president, Klaus Christian Ramm-Schmidt, has been reported as saying.

However, the company is not planning to acquire any more breweries in Russia but grow organically. The company currently has 33% of the Russian beer market and the Russian Anti-Monopoly Ministry has set a limit of 35% for any one company.