Thu, 28 Oct 1999: Ice-cream makers seek double dip…



Currently, Tallinna Kulmhoone controls 60 percent of the Estonian market for ice cream and Kauno Pieno Centras has 20 percent of the market in Lithuania, according to the statement. The Estonian company's turnover in 1998 was 335 million kroons. Production and sale of ice cream accounted for 70 percent of the turnover. The same year, KPC's turnover was 78.4 million kroons, 100 percent of which came from ice cream. The first order of business for the two companies will be to create a holding company, which will most likely be located in one of the Scandinavian countries, said Hanno Riismaa, investment director at Scandinavian Baltic Development, the firm coordinating and financing the merger. Riismaa said the holding company will be register... Read the rest of this entry »

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