Russia: OJSC Baltika Brewery Company invested $28 mln in its malt-house in Yaroslavl

OJSC Baltika Brewery Company invested $28 mln to its malt-house in Yaroslavl, the company announced, according to AK&M, March 5.

Opening of a plant with a productive power of 50 thousand tons of malt a year has taken place today, 5 March 2007. The construction of the plant was performed in the boundaries of a new program aiming cost reduction, the company said.

Baltika has been leader of the Russian beer market since 1996. In January-September 2006, the company's net income totalled EUR 260.6 mil, which is 34.8% more y-o-y. Its revenues grew by 77% to EUR 1.338 bn, its gross profit - by 30.2% to EUR 727.4 mil, EBITDA - by 85% to EUR 440.9 mln. The main brands are Baltika and Arsenalnoe. The company owns 10 breweries and 4 malt-houses in 9 regions of Russia. The principal shareholder is Baltic Beverages Holding AB (ÂÂH) that holds 86.32% of Baltika's authorized capital stock and 91.48% of voting shares.

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