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Roshen Investing €8m to Modernise Lithuanian Factory

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Roshen Investing €8m to Modernise Lithuanian Factory

Roshen Investing €8m to Modernise Lithuanian Factory
July 30
10:58 2010

Roshen Confectionery Corporation will invest Eur3.2m towards the end of 2010 in new production lines as the first phase of a Eur8m modernisation programme at its caramel factory in Lithuania. When the programme is complete production will increase to 1,290 tons per month. Products from the modernised factory will be sold on EU markets from March 2011.

Roshen acquired the Lithuanian factory in 2006 and spent Eur750,000 on upgrading at the start of 2007. Between 2007 and 2010 output from the factory increased from 80 to 300 tons a month.

Roshen increased its sales by 35% to US$425m in the first half of 2010. Total confectionary output by the Ukrainian confectionery manufacturer was 184,000 tons, which is 12% rise compared to the first half of 2009. Exports amounted to 37,000 tons during the first half of this year.

Roshen operates four factories in the Ukraine at Kiev, Vinnitsa, Mariupol and Kremenchug, along with a production site in Russia and the one in Lithuania. The group’s products are sold in the Ukraine, Russia, Kazakhstan, Uzbekistan, Kyrgyzstan, Azerbaijan, Armenia, Moldova, Estonia, Latvia, Lithuania, the USA, Canada, Germany, Israel and other countries. Roshen is planning to build a new factory in Russia as part of its strategy to increase market share from 3% to 5%.

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