NOVOSIBIRSK, May 26 (RIA Novosti) - Russia's largest beer producer Baltika Breweries opened on Monday a 134 million euro ($200 million) plant in Novosibirsk in West Siberia, its 11th brewery in the country.
"The brewery is designed to produce 4.5 million deciliters of beer a year and is the largest brewery beyond the Urals," Baltika CEO Anton Artemyev said at the plant's opening ceremony.
Baltika, with market capitalization of over $7 billion, controls more than 37% of the Russian beer market and employs 12,000 people. The Baltika brand is the second largest in Europe in terms of sales and one of the top three brands in Russia.
Baltic Beverages Holding (BBH) controls 85.5% of Baltika's charter capital.
Baltika posted a 20.5% year-on-year increase in net profit calculated to International Financial Reporting Standards to 398.7 million euros ($582 million) in 2007.
