Heineken has announced it plans to sell its production site in Kaliningrad, Russia, as it aims to raise RUB 250 million ($4.3 million).
Production at the site in the Russian enclave were reportedly stopped in January as a result of sustained inflation, unfavourable exchange rates, low consumer confidence and high price competition.
Heineken said in a statement: “We have a sober estimate of the economic situation in the country as a whole and in the region in particular.”
The site consists of warehouses and five plots of land with a total area of 7.2 hectares. Heineken said its aims to use the money from the sale to invest in other projects.
The Coca-Cola Co. has promoted Evguenia (Jeny) Stoichkova to president of global ventures, effective Jan. 1, 2023. Ms. Stoichkova joined Coca-Cola Bulgaria in 2004 and was most recently the president of the company’s Eurasia & Middle East division, a role she has held since 2021.
US-based Perfect Day, is partnering with Onego Bio, which specializes in creating animal-free eggs, aiming to accelerate the timeline to bring the eggs to the market. The business, with the use of its technology, plans to commercialize animal-free ovalbumin, the most abundant egg white protein extracted through precision fermentation.
Food waste costs the EU €143 billion per year (US$141.7 billion), with a report by Feedback EU raising the alarm of how it’s vital to reduce waste from farm to fork 50% by 2030 and the only way this will be achieved is by enforcing a mandatory directive forcing the food industry to do better and retailers to pay a tax of food waste.