Investment From Western NIS Enterprise Fund
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Ukrainian Confectionery AVK Reports
Strong Growth in 2000
In addition to turning in strong financial and operating results, AVK continued to strengthen its portfolio of specialty and proprietary products. In November, the maker of the popular Mazhor snack bars and Club Jelle candy bars launched a new line of elite boxed chocolates under the brand name "Talisman".
AVK began the ISO certification process in November 1999. In addition to the manufacturing process itself, as many as ten other company-wide processes such as procurement, sales, marketing, logistics, warehousing and human resources were evaluated and brought into accordance with ISO 9001 requirements. AVK plans to extend the ISO certification to its new biscuit manufacturing facility in Donetsk. The factory is scheduled to be commissioned in the spring and will provide the Company the means to continue its strong growth in 2001.
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Kyiv,
February 27, 2001 - AVK, Ukraine's premier producer of high quality
confectionery products, announced today its financial and operating
results for the year 2000. Unit sales increased by 28% over 1999
to 60.6 thousand tons, while revenues for the year reached $60 million
for the first time in the Company's history. AVK is currently the
second largest producer in the rapidly expanding and very competitive
Ukrainian confectionery market.
