For a little bit of happiness
Efes is to invest USD10 million in its Moldovan brewery in 2005. This is more than twice the sum the Turkish brewer spent on upgrading and modernising the brewery in 2003/2004. In 2003 Efes Vitanta is said to have sales in the order of USD25 million which were expected to increase 20 percent in 2004. In 2002 Efes had acquired the leading Moldovan beer and beverage group Vitanta Intravest S.A. whose brewery is located in Chisinau. The Moldovan beer market, with total consumption of around 400,000 hl and a per capita consumption of 9 litres, is considered one the fastest growing beer markets in Europe, while the country itself is in a pickle. With only 4.4 million people, its market is too small to lure foreign investors. The average wage is USD70 a month..
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