Roshen Buys Lithuanian Confectioner.
27 July 2008
Roshen, Ukraine’s biggest confectioner, bought 100% of Lithuania’s Klaipedos Konditerija. The factory has been working at about 40% of its capacity of 25 mt/year and exports about 30% of its products mainly to Latvia, Russia, Germany, Switzerland and the US. Roshen said it would significantly increase the plant’s capacity. In related news, Roshen reported a 14.7% yoy increase in net revenues in 1H06 to $186.9m and a 107% yoy increase in net income to $13.3m. Olha Pankiv: The Lithuanian plant will help Roshen avoid EU import tariffs and save on transportation costs. Roshen also owns the Linkof plant in Russia, which allows it to avoid Russian import tariffs on caramel.
