Latvia: Craft brewer Uzavas Alus to invest EUR 2 mln in expansion this year

Latvian micro-brewery Uzavas Alus plans to invest EUR 2 million in development this year, the company's co-owner and lone board member Uldis Pumpurs told LETA.

He said that the investments will be made to expand the company's warehouses, as well as purchase new equipment, like, for example, for fermentation equipment.

Pumpurs said that the investment project is planned to be implemented already this year, thus also increasing beer production volumes.

After the investment project is implemented, the brewery hopes to increase production volumes by about one-fourth of current volumes.

The company is also planning on introducing new beer bottles with new labels, which will be circulated in the market within the next month.

He said that the company's sales volumes have also seen an substantial increase this year, compared to the previous one, and expressed hope that this positive trend will continue.

Pumpurs said that the company has started exports to Great Britain, and that it also exports to Estonia, and a bit to Finland and Russia as well. He hopes that export volumes to Finland will also rise this year.

Uzavas Alus operated with EUR 3.214 million in turnover and EUR 18,519 in profit last year.

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