Company briefs - 2008-02-20

  • 2008-02-20
Coca-Cola executives said that the company would expand its business and boost its market share in the Baltics. "The Baltic market has big potential 's consumption of soft drinks per capita is still below other EU countries, and we firmly believe that it can grow," director Mariusz Kiepas said in a statement. The Baltics made a significant contribution to solid results of Coca-Cola in Europe, he said, adding that last year global sales of the Atlanta-based parent company rose 6 percent. Sales of carbonated drinks increased 4 percent year-on-year and non-carbonated drinks 12 percent.

Saarek, one of the largest suppliers of frozen berries in northern Europe, said it intended to start growing wild berries in old peat fields. The firm said it planned to set up operations in the southern Voru County in a project that would create 300-500 new jobs. CEO Toivo Alt said the company has applied to the Environment Ministry for a 30-year lease of the 107-hectare Hallivana property situated in the Antsla commune to start growing blueberries. Alt said the high acidity of the soil in peat fields makes growing blueberries economically feasible.

Arvi Ir Ko, Lithuania's leading agricultural and food company, decided to invest in a 17 million euro fertilizer plant in the Kaliningrad region. "We decided to invest in the Kaliningrad region since the area offers certain advantages for the exports of fertilizers to European Union countries," CEO Virginijus Darguzas told the Lietuvos Rytas daily. "Moreover, the market in that area is rather promising. Easier access to raw materials of Russian origin is also important." The design capacity of the new fertilizer plant should be some 240,000 tons per year, twice more than the fertilizer plant Arvi opened in Marijampole several years ago. Darguzas said investments should pay off in about six years.