Latvia's juice maker Gutta said it was planning to invest some 3 million euros this year and next on building a new production line and warehouse. The new line would be used to produce products in PET bottles. In the January-August period of this year, Gutta managed to boost its net turnover by 18 percent to 6.9 million lats (10.3 million euros).
Litnaglis, Lithuania's nail producer, said it would shift part of its manufacturing to Belarus, which is closer to raw materials and has cheaper electricity and labor. CEO Mindaugas Bondauskis said that competition with Russia's metal producers was too harsh, and that the company would have to search for solutions to save itself. "Metal prices have increased, whereas Europe is short of stocks. We are absolutely dependent on raw material suppliers from the East. Moreover, Russians are buying more and more European plants using metals for the manufacturing process," Bondauskis explained.