"We have entered the Russian market after a year of preparatory work. Under a contract with our trade partner, we supply our ketchup, which is then sold in various retail stores in Russia, including Moscow," Suslavičius-Felix CEO Darijus Taraila said.
"We have put off Belarus until better times. We are interested in Kazakhstan and will participate in a food industry show to be held there in November. However, logistics and customs duties drive up the price of our product and make it more difficult for us to compete. Nevertheless, we are not abandoning plans to enter Kazakhstan," he said.
Suslavičius-Felix posted 19.751 million litas (EUR 5.72 m) in revenues for 2010, down 9.4 percent compared with 2009. Its net profit fell by 15.9 percent to 832,500 litas. Domestic sales accounted for 80 percent of the total revenue.
Norway's Orkla Brands is the company's sole shareholder.
2012-05-09 17:55
Lithuanian food producer Suslavičius-Felix eyes Kazakhstan after entering Russian market
Following its recent entry into the Russian market, Lithuania's sauce and ketchup maker Suslavičius-Felix, which is part of the Orkla Group, is now considering stepping into Kazakhstan, but is shelving plans to supply its products to Belarus "until better times", the business daily Verslo Žinios reports.
. / 123rf.com nuotr.
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