E-Malt.com News article: 1539

Belarus, Minsk: Gomel brewery Aragast-Czech Beer is to become the largest malt producer in Belarus, Interfax learnt from Gomel regional administration. Aragast-Czech Beer will be firstly transformed into a foreign company Evrosolod. Soon after the reorganization, the company will start producing three kinds of barley malt: candy, light, and dark Bavarian, company’s director Vasily Nikitenko told Interfax. According to Nikitenko, the company has ordered the necessary equipment and will be able to start the production by the end of 2003. The facilities will allow to produce up to 10,000 tons of malt annually. According to preliminary information, in 2004 the company plans to manufacture 4,500 tons of malt. Initially the raw stock will be bought in Czech Republic to start using the Belarusian raw stock as soon as the Belarusian barley cultivation state programme is deployed.

According to the information received from the company leadership, the company plans to sell the state property share equaling 48% of the shares stock worth $569,300. The money to be received will cover company's debts as it is a loser nowadays, which can be explained by the deterioration of the main production facilities and extreme competition on the home market.



09 September, 2003