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STU: Concerning plans of temporarily break in production from 1 till 31 of July

Spekuliantai.lt | 2011-06-08 | NASDAQ OMX biržų naujienos | perskaitė: 1024
Raktiniai žodžiai: Stumbras AB, STU
STU: Concerning plans of temporarily break in production from 1 till 31 of July

Stumbras AB Notification on material event 08.06.2011

Concerning plans of temporarily break in production from 1 till 31 of July

Stumbras AB is planning to temporarily stall its production output and release
employees from work duties from 1 till 31 of July. Main reason behind this is
the growing need of additional cuts in production costs, caused by the further
decline in strong alcohol market.

“Recently we significantly increased the efficiency of our production
activities, we reshaped and relaunched our most popular drinks and introduced
new products to the market. Therefore, our market position is strengthening,
but because of the further decline in the whole strong alcohol market, we are
forced to find more ways to cut company costs. One of the reasons that we
decided to temporarily stop production in July was that this month is probably
most suitable for our employee holidays, because a lot of our main partners in
western Europe also choose July for holidays ” - Company's general manager,
Česlovas Matulevičius.

Algirdas Čiburys

Marketing director

+370 5 2786 309

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