E-Malt.com News article: 1914

Russia: The turnover of the Tinkoff Brewing Company in 2003 can grow by 60% from $ 25 million in 2002 - to $40 million in 2003, the Russian Brewers Union posted. Moreover, by forecasts of the company, the enterprise"s proceeds can amount to $300-400 million, says a member of the board of directors, marketing director Samvel Avetisyan.

"Such sharp change of indices will be thanks to the commissioning of the new facilities", says S. Avetisyan. In addition to the existing bottle beer enterprise in the Leningrad region the Company in autumn of 2003 proceeded to construction of a new factory of $75 million worth near the existing enterprise. It will take 11 months to build the factory, which will be actually ready for commissioning in early 2005, said S. Avertisyan. The capacity of this new enterprise will amount to 2 million hectoliters, with providing a possibility of increase up to 4 million hectoliters. Today the aggregate production facilities of the Tinkoff Company amount to 125 thousand hectoliters and in December, 2003 will be expanded up to 250 thousand hectoliters. S. Avetisyan says that in 2004 the company"s turnover - before the commissioning of the second factory - is supposed to increase up to $ 100 million that will exceed twice the financial figures for 2003. The Tinkoff Companies Group was formed in 1998, owns the sole Russian network of 6 restaurants- breweries producing beer of ultra-premium class. In December, 2003 the production facilities will be doubled, and the factory will produce 250 thousand hl of beer. In 2003 Tinkoff will output 0.12 million hectoliters of beer. Tinkoff plans to invest 10 million dollars into the federal network of restaurants of the Tinkoff Company. The total investment volume into the federal network of restaurants for recent 5 years has amounted to $16 million.



12 December, 2003