Russia's largest brewery to cut investments by two thirds in 2009
14:54, 5 June 2009
ST. PETERSBURG. June 5. KAZINFORM Russia's largest brewery Baltika will reduce investments by three two thirds to 100 million euros in 2009, the company's president said on Friday; Kazinform refers to RIA Novosti.
Anton Artemyev told RIA Novosti on the sidelines of the St. Petersburg International Economic Forum that Baltika's annual investments were 300 million euros in 2008 and around the same level in previous years.
He said Baltika has decided not to invest in new production facilities as "the market is not growing and our company has enough production facilities"; Kazinform cites RIA Novosti.
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