Latvia: Aldaris Brewery appoints new CEO, forecasts decline for Latvia’s beer market

Thomas Panteli has been appointed as CEO of Latvia's biggest brewery Aldaris, the Baltic Course informed on October, 24.

For several past years Panteli has successfully worked for companies affiliated to Carlsberg, which is the major share holder of Aldaris, Inara Sure, board chairwoman of Aldaris, said.

“I am sure that the experience I have gained during the many years, working for the Carlsberg Group will help me to strengthen Aldaris' positions,” Panteli said.

As it was reported, sales volume of Aldaris products during the first nine months of 2008 was similar and even slightly higher than that during the same period last year. Also, September has been successful for Aldaris in terms of production sales, which could be explained by this year's favourable weather conditions contributing to higher consumption level than last year, when September was relatively cold, Sure informed.

"In terms of sales volume, the market has remained at the same level as in the previous year," Sure indicated, adding that some changes have been observed in the purchasing habits of beer consumers, for example, market share of the more expensive, the so-called "Premium" beer has increased by 1.8%.

At the same time, Ms Sure forecasted a decline in Latvia’s beer market by the end of 2008.

24 October, 2008