Fermentas to tap Swedish market
The Fermentas biotechnology company in Lithuania is to directly export its products to Sweden via Fermentas International, its German holding company, reports the LETA news agency.
The firm also plans to establish a warehouse in Sweden so as to facilitate more efficient product supplies to the Norwegian and Danish markets. This move is also intended to strengthen Fermentas' position in the Scandanavian market overall.
Sales in Sweden currently account for around 6% of the firm's overall revenues, with Fermentas forecasting annual growth in turnover in the country of around 30% this year. During the fist six months of 2003, sales were up 3% on the like, year-earlier period, at 4.3 million euros ($4.7 million). Full-year sales in Sweden are expected to reach over 9 million euros.
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