“Aroma” resumes export of cognac to CIS and Germany

The cognac factory “Aroma” restarted the export of cognac to Russia, Belarus, Ukraine and Germany. Under a long-term contract signed with the Russian company “MoPo”, in February “Aroma” will supply 181,000 bottles of cognac “Belyi Aist”, while in March another 180,000 bottles to Russia, Info-Prim Neo reports, quoting the press service of the Ministry of Agriculture and Food Industry. Under the agreement between “Aroma” and “MoPo”, the Moldovan company will supply 2.45 million bottles of cognac to Russia every year. The importer has the exclusive right to sell the cognacs made by SA “Aroma” in Russia. “MoPo” is the first company that holds a license for the import and export of alcoholic products through the common customs area of Russia, Belarus and Kazakhstan. The situation of the Moldovan cognac company improved significantly after it asked starting the insolvency procedure at the end of 2009 owing to the debts of about 130 million lei to banks. In order to avoid the bankruptcy of the company, the new administration of the Ministry of Agriculture got involved in the talks with the creditor banks. As a result of the talks, the banks agreed to extend the loan repayment terms by seven years on acceptable conditions for “Aroma” so that the bankruptcy risk was overcome. The products made by “Aroma” are also distributed by such companies as “ACT”, “Lavina” and “Dionis-club”.