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France's Brasserie & Glacier Internationale plans to team up with the Moscow Tryokhgorny Brewery in a $55 million joint venture to produce beer and soft drinks, Interfax reported Friday.
The joint venture, in which the Russian factory will have a 30 percent stake, plans to produce 15 million liters of beer and soft drinks per year, Interfax quoted Vladimir Ulanov, the factory's director, as saying.
The Kutuzovsky Prospekt factory, formerly called the Badayev Brewery, was established in 1879 and produces the famous Zhigulyevskoye and Moskovskoye brands of beer.
BGI plans to invest $14.7 million of its own cash and borrow a further $34 million over the next seven years from French banks, according to Interfax. Tryokhgorny Brewery's contribution to the project will take the form of $6.3 million in real estate and communications, the agency said.
Ulanov said that his factory had to cut beer output to 70 million liters in 1994, compared with 74 million liters in 1993.
French Firm Eyes Brewery JV
29 January 1995
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