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Baltika president appointed Brazilian Honorary Consul in St. Petersburg
04.17.2003 14:27

Taimuraz Bolloev Taimuraz Bolloev, the head of the St. Petersburg-based Baltika Brewing Company, has been appointed Brazilian Honorary Consul for the Russian North-West. According to the company's press office, the honorary consulate will be located at the Baltika brewery.

Brazil and Russia agreed last autumn to set up an honorary consulate in the North-West. The appointment of Taimuraz Bolloev to the post was agreed by mutual consent.

Baltika's press office said that the job of an honorary consul is to defend the interests of foreign investors who, having put their money in another country, would like to have an influential representative. Honorary consuls are also responsible for protecting and promoting the national economic interests of Russian citizens abroad, and for setting up cultural ties. This is why prominent businessmen, who wield influence and authority in their country, are usually chosen as honorary consuls.

The Baltika Brewing Company was founded in 1990 and registered in 1992. It has joint-stock capital worth 120,672,800 roubles (USD 3.85 million), which is divided into 107,087,200 ordinary and 13,485,600 preferred shares with a nominal value of 1 rouble. The company's main shareholder is the Baltic Beverage Holding (74.24%). In 2002 Baltika sold 1.6 billion litres of beer, which was a 14.5% increase on the previous year. In 2002 the company's profits rose by 8% in hard currency terms and 16% in rouble terms.

News source: www.rosbaltnews.com
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