Russia: Heineken cuts 500 jobs in Russia and targets 20% of Russia beer market in forthcoming 5-6 years
Heineken NV said it has recently cut 500 jobs in Russia and is aiming to raise its market share in the Russian beer market to 20 pct in 5 to 6 years, AFX released July 05.
Last year Heineken said that with the acquisitions of the Russian Patra, Stepan Razin, Baikal and Ivan Taranov breweries, its market share in Russia would expand to 14 pct.
The 500 job cuts are a result of the 'integration activities and improvement of efficiency' at the Russian breweries.
Heineken also said it expects to sell more than 13 mln hectolitres of beer in Russia, 1 mln more than in 2005.
The company reiterated its expectation that the Russian operations bought last year will become 'value enhancing in 5 years time'.
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