EU – CIS, Foodstuff, Latvia, Markets and Companies, Russia

Photo: foodunion.lv

Although the dairy company closed the year in the red, its management said the targets were met as RPK improved production processes, which allowed enhancing efficiency.

The RPK management said that last year, the company exported EUR 11.8 mln worth of products, mainly to Azerbaijan, Lithuania, Russia and Estonia. Thanks to successful cooperation with companies of the Food Union group, RPK managed to significantly increase exports to Estonia, Russia and Denmark, the RPK management said.

In 2016 RPK generated EUR 81.739 mln in turnover and sustained a loss of EUR 581,798.

Rigas Piena Kombinats, established in 1991, belongs to Food Union Holding (CY) Public Company Limited.

Rigas Piena Kombinats is a member of Food Union dairy group, which also includes Valmieras Piens and Rigas Piensaimnieks in Latvia, ice cream maker Premia in Estonia and Lithuania, Premier Is and Hjem Is in Denmark, Isbjorn Is in Norway, Alpin57Lux in Romania, Ingman Ice Cream in Belarus, Hladokombinat No.1 in Russia, as well as two dairy plants in China.

The holding’s key shareholder is Russian businessman Andrey Beskhmelnitsky.