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Russia: Russia's Yaroslavl-based brewery Yarpivo expects total investment into the upgrading of production facilities to amount to U.S. USD 33 million this year, the company's press service said Monday, September 6. The money is to be spent on upgrading bottling lines, grain storage facilities as well as other unspecified production units, according to Prime-Tass. Last week, the company said in a statement that it planned to sell 16 million decaliters of beer in September-December, up 10% on the year.

Yarpivo expects to increase sales by more active cooperation with distributors, and plans to invest more than U.S. USD 2 million in the development of its distribution network. The financing will be used to increase the number of staff working with distributors, to purchase trade equipment and to provide loans to distributors.

Yarpivo is one of the largest Russian breweries. Currently it produces 15 kinds of beer under the Yarpivo and Volga brand names. Yarpivo owns the Voronezhsky brewery, based in Voronezh. In 2003, Yarpivo sold 57 million decaliters of beer, accounting for 7.6% of Russia's beer market. The company's net profit amounted to USD 49.6 million. The company, established in 1975, is currently 60% owned by Baltic Beverages Holding AB, a joint venture between Danish brewing giant Carlsberg and Finland's Hartwall.


08 September, 2004