Wine firm looks east

Alan Heath
14-01-2002, 00:00

Wine producer Ambra is planning to return to eastern markets it left in the wake of the Russian crisis over three years ago. It hopes to buy two factories Russia and take a strategic stake in the privatisation of Alita, the largest alcohol firm in Lithuania. If it is unsuccessful in any of these ventures, it will construct its own plants. Ambra is hoping to sell three to four million litres of sparkling wine in Lithuania and up to five times as much in Russia. It has set aside a budget of USD5m — USD10m for foreign investments to come from added capital and credits although it has not ruled out raising funds on the Polish stock market.

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Podpis: Alan Heath

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