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Business news, 12.02.2002 17:16

It’s time to trust Russia

“The presence of large foreign companies on the Russian market indicate growth of trust to Russia” – considers Taymuraz Bolloev, president of Baltika Brewing Company (St. Petersburg).

For instance, Heineken (Holland) has been selling beer in Russia for several years and only now has decided to buy the plant Bravo International in St. Petersburg. Heineken is considered to have overpaid for the plant, which possesses only 4% of the Russian beer market, but T. Bolloev reckons this was the pay not only for facilities and market share but also perspective to work in Russia.

According to President of Baltika, political and economic situation in Russia has become stable and predictable, and foreigners are not threatened with unpleasant surprises.

Heineken has invested about $400m into the plant and payback period will be at least 3-5 years.

Heineken Holland concern is among five world’s largest beer manufactures. Bravo International Plant is a part of Bravo Holdings Limited Group, established in 2002 by several Icelandic businessmen. Beer production started only in 1999, as the plant was primary low-alcohol-cocktails-orientated. The most famous beer brands are “Botcharev”, “Oblomov”, “Okhota” and the licensed beer “Lowenbrau”.

News source: Rosbalt

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