Aldaris to invest 2.5 million lats in development

  • 2001-05-10
  • TBT staff
RIGA - Aldaris, Latvia's largest brewer, this year plans to invest 2.5 million lats ($3.97 million) into development, the company's president, Vitaly Gavrilov, told reporters May 7.

From this sum about $750,000 have already been invested in beer percolation equipment. Beer percolation is a key technological process ensuring high quality, said Gavrilov.

The company has also invested in water preparation systems, several new trucks and it has plans to invest more in beer production equipment.

In addition, on May 7 the company opened a new 200,000 lat loading facility, which Gavrilov says will significantly cut down on delivery time.

He added that beverage turnover would increase to 1 million liters per day from the present of 580,000 liters and trim logistics expenses by about 10 percent.

Aldaris produces beer, mineral water and last fall inked a deal to distribute Pepsi, Pepsi Max, 7Up, Zingo, Lauku Kvass and other beverages.

Aldaris posted a profit last year of more than 2.31 million lats on a net turnover of 19.06 million lats. The company sold 44.56 million liters of beer last year, a 27 percent decrease year-on-year.

The company estimates it controls 45 percent of Latvia's beer market.

Gavrilov noted that the beer market experienced a 9 percent downturn between January and March this year.

Company officials blamed the sluggish sales on poor weather and the declining purchasing power of Latvia's residents.