Baltic Export, China, Foodstuff, Good for Business, Latvia, Markets and Companies

The company is exporting premium class products to China, including juices, "Lacplesis Extra" and "Lacplesis izturets" beer. The company also plans to present "Mangali" drinking water, "Enjoy" carbonated drinks and other products to customers in China.

"China is a complicated market but it holds great potential for Latvian producers. In cooperation with a major European producer, we have been making certain products specifically for the Chinese market for two years already,” said Kirstukas.

Cido grupa's exports reached 21% of total sales in 2014, the best rate in recent years. Most of the exports or 63% were sent to Lithuania and Estonia, 25% to other European countries and 12% to Russia and other third countries.

The company exports its products to some 20 countries, including Sweden, Denmark, the United Kingdom, Ireland, Germany, Poland, Italy, Spain, Malta, Israel, Ukraine, Russia, Belarus, Azerbaijan, the United States, Canada, China and the United Arab Emirates, Lithuania and Estonia.

The company plans to promote export development also in the future by participating in international fairs and using the export guarantees offered by "Latvian Development Financial Institution Altum".

Cido grupa last year generated EUR 55.93 million in sales, up 1% from 2013, according to information published by Firmas.lv business database. The company's profit dropped fourfold from EUR 2.42 million in 2013 to EUR 581,334 in 2014.

Cido grupa, founded in 1994, is the leading beverage maker in the Baltic States. The company's share capital is EUR 1,117,054 and it employs 334 people. Its largest shareholder is Denmark's Royal Unibrew.