October 2, 2017 / 11:36 AM / 5 months ago

Heineken to sell mothballed plant in Russia's Kaliningrad

MOSCOW (Reuters) - Heineken (HEIO.AS), the world’s third-largest brewer, said on Monday it had put its mothballed production site in Kaliningrad, a Russian exclave on the Baltic Sea, up for sale.

The Dutch company halted production at the Kaliningrad plant in January, citing a steady decline in Russia’s beer market due to the tightening of the regulation and recession.

    “We have a sober estimate of the economic situation in the country as a whole and in the region in particular,” the company said in a statement announcing the sale.

    Heineken said it planned to raise at least 250 million roubles ($4.3 million) from the sale and invest the proceeds in other projects.

    ($1 = 57.9234 roubles)

    Reporting by Maria Kiselyova; Editing by Dmitry Solovyov

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below