OREANDA-NEWS. On 26 August 2009 was announced, that Belarusian largest brewery OAO Krinitsa will develop without a management company, Krinitsa CEO Grigory Petkevich told reporters.

“The bids we received from potential management companies failed to meet our requirements… Not a single contender managed to meet our conditions, and it is clear now we will have to go on independently,” Petkevich said.

A source close to the government confirmed that of the three bidders – Russian Khmeleff, Cyprus’ Detroit Investments and Denmark’s Red Rock Management – none managed to make a sound offer that would suit Krinitsa.

“There will be no changes in the management of the company in the foreseeable future,” the source said.

He did not rule out that a management company might be invited in the long run.

Belarusian Trading House Belgospischeprom on July 2, 2009 held a tender to select a managing organization for the country’s largest brewery Krinitsa aimed at financial sanation, increasing efficiency and optimizing production and sales strategy.

The manager was supposed to improve the production and financial indicators of the Belarusian brewery in 2009-2012, including an increase in beer output to 15.72 million decaliters in 2009, 20.59 million decaliters in 2010, 23 million decaliters in 2011, 24 million decaliters in 2012.

Exports were projected at 1 million decaliters, 2.5 million decaliters in 2010 and 3 million decaliters in 2011 and 3.5 million decaliters in 2012.

Profitability of sold products was to reach 20% in 2009, 30% in 2010 and 2011 and 32% in 2012.

OAO Krinitsa produced 8.803 million decaliters of beer in January-July 2009, up 6.9% from the last January-July level.