Estonia: Saku brewery plans no cuts to investments in 2009 – finance director

The news that Coca-Cola may transfer production away from Estonia evoked rumours that the nation’s largest brewery Saku may also consider such a move, Baltic Business News posted on November, 19.

However, Inga Kuusik, finance director of Saku Brewery, said that Carlsberg that is the controlling shareholder of Saku Brewery has no such plans.

“On the contrary, this is the time to invest and prepare for new growth. Although times may be tough at present, this is the right time to build future growth,” said Kuusik.

According to Kuusik, Saku plans to invest around EEK 70 million this year and has no plans to cut its investments this year or next. She said that she could not say next year’s investment since the budget has not yet been finalized.

“Much will depend how much we can invest this year. Otherwise, we try to optimize and are not doing things that we don’t need to do, but we don’t optimize on investments,” she added.

21 November, 2008