Venerable yeast factory to shut down

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Venerable yeast factory to shut down

May 01, 2008
Staff and wire reports

RISING PROBLEMS: The 150 year old yeast company is closing its doors in mid-May due to unfavorable economic conditions and high inflation in the Baltics.

One of Riga’s oldest factories, Rigas Raugs (Riga Yeast), has announced that it will shut down operations in mid-May due to the unfavorable economic climate in both Latvia and the European Union, which is deregulating the sugar industry. The yeast producer, which was established in 1847, has been pinched by rising prices for molasses, a by-product of sugar production necessary for making yeast, ever since Latvia closed its two sugar factories last year. The factories were closed as a res ...

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