Lithuania: Svencioneliai-based Company, Maltosa, is to start up malt production in several weeks, the Verslo Zinios business daily reported at the beginning of the week. Maltosa is to become the second player on Lithuania's malt market. Panevezys-based Viking Malt, so far the only malt producer in Lithuania, admitted to the daily that it anticipated a strong rise in competition.
"Construction works have been completed, and we launched pilot manufacturing before the New Year. We expect to commission the facilities in about two or three weeks. Shortly after, we will launch production at full capacities," Valerijonas Kozemiakas, Maltosa CEO, told the business daily.
The malt producer would get the assistance of some 7.83 million litas (EUR 2.27 mln) from the EU SAPARD fund to implement the project. Total investments into the malt plant made up some 19.5 million litas. About 4 million litas were channeled into the reconstruction of elevator and electricity installations. The new plant would reach full capacities well before the end of 2005, Kozemiakas said, adding that the output would reach some 22,000 tons of malt, and the turnover would hit some 19.8-20.9 million litas.
Meanwhile Viking Malt is in a rush to get ready for harsher competition. Last summer the Panevezys-based malt producer opened a new plant, which ate up the investment above 100 million litas.
Gintaras Aukstinaitis, Viking Malt CEO, told the daily that the annual demand in malt in Lithuania reached some 55,000 tons, whereas the company's sales in the Baltic countries would total 60,000 tons this year. The company is projecting the sales of 55 million litas in 2005, up from 28.39 million litas a year earlier. (EUR 1 = LTL 3.45)
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