E-Malt.com News article: 3137

RUSSIA: The Dutch brewer Heineken is to invest US$100m in its Russian operations, according to a report from the East European news agency Interfax.

The report quoted Heineken NV chairman Roland Pirmez who said the money
would be used over the next three years in the two breweries that Heineken
has recently acquired in Russia.

Heineken recently said it had acquired Central European Brewing Company,
which controls 78% of the Chikhan brewery and 100% of the Volga brewery. The
deal made Heineken the third biggest brewer in Russia.

It is hoped the investment will increase the company's production output in
Russia, helping it increase its market share from 7% to 9%, the report said.

23 August, 2004