Hold off investments: company postponing future planned investment/development/marketing while continuing substantive business

Stay Pausing Investments

Volfas Engelman is a manufacturer of alcoholic beverages in Kaunas, Lithuania

Hold off investments: company postponing future planned investment/development/marketing while continuing substantive business

Stay Pausing Investments
Glob.Revenue, mln.USD
521

The Kaunas brewery "Volfas Engelman" announced its withdrawal from the Russian market more than a year ago. However, Kaunas beer continues to travel not only to Moscow stores, but also to a company controlled by Russian intelligence.

The Company Statement
April 26, 2023

Suspend investment and withdraw from Russian market. Hundreds of POS from several distributors in Russia even today. The company position was always "it's not us exporting our products to Russia, it's either dishonest distributors/parallel import or some old leftovers or whatnot". As of December 2022 they marked their cans with a small contour of Ukraine and ♥️ in order to "discourage purchase and parallel import" and "consider the matter closed".

August 05, 2024Volfas Engelman's exports increased by 43 percent, mostly to Ukraine
July 22, 2024After Shurayev's remarks, "Volfas Engelman" assures: the information does not correspond to reality
March 28, 2023In response to public information, we share our team's position
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