28 January 2003
Brest brewery's sale to Ochakovo in question
The Brest regional government is still undecided as to whether to authorize the sale of a controlling stake in the local brewery to Russia's Ochakovo. Ochakovo President Aleksei Kochetov has postponed his trip
to Brest, originally scheduled for February, because of the
uncertainty, Galina Grekova, the Russian company's public
relations officer, told BelaPAN.
In its bid to expand to Belarus Ochakovo has not advanced any further than signing agreements on intentions with the brewery in Slutsk, Minsk region, three years ago and the Brest brewery last year.
"There must be some hitches in your state system that contain progress," Ms. Grekova said. The Russian company wants to acquire 85 percent in the Brest brewery, pledging to spend up to $25 million on its upgrade to boost annual output to 5 million decaliters by 2006. It intends to produce about 2 million decaliters of non-alcoholic and low-alcohol beverages in Brest.
"Considering Baltika's bad experience in Belarus, Ochakovo will not rush to invest in the Belarusian brewing industry without proper guarantees that the money would be used in accordance with the contract," Ms. Grekova said. Ochakovo is among Russia's top three leading brewers. The company produces more than 100 brands of beverages exporting its products to 60 provinces in Russia, Belarus,
Israel, the United Arab Emirates and the United States.
http://brestonline.com/en/news/news348.html