39 Regional Reports - Eastern Europe fected by the devaluation of the Turkish lira and high inflation rates. Although the sales results of TGLYPH<159>rk Tuborg in 2001 were satisfactory, the com- panyGLYPH<213>s financial results are unsatisfactory and characterised by substantial financial costs. The Polish beer market registered reduced growth in 2001, and per capita consumption increased to 62 litres. Okocimskie Zaklady Piwowarskie S.A. (Okocim)GLYPH<213>s beer sales showed handsome growth figures in 2001. Sales of international beer brands in Poland remain modest, however, and sales of the Carlsberg brand are not satisfactory. In 2001, Carlsberg Breweries obtained appro- val from the Polish authorities to increase its shareholding in Okocim. The stake was increased to 80.4% through a public tender offer. In 2001, Okocim entered into an agreement to acquire vir- tually the entire share capital in the breweries Kasztelan Browar Sierpc S.A. and Bosman Bro- war Szcezcin S.A. The agreement is subject to approval by the Polish authorities and provided that such approval is granted, the three compa- nies must be fully integrated in 2002. In addition, Carlsberg Breweries acquired the controlling inter- est in Browary Dolnoslaskie Piast S.A. (Piast) in 2001. The intention is to propose a merger of Okocim and Poland to the Okocim shareholders, which will generate substantial competitive advan- tages for both companies. By the end of 2001, Carlsberg BreweriesGLYPH<213> stake in Piast had increased to more than 98%. OkocimGLYPH<213>s financial results have improved signifi- cantly compared to the year 2000 although results remain unsatisfactory. The Turkish beer market remained stable at 11 litres per capita in 2001. The total beer market is currently at 7m hl and is anticipated to increase in 2002, mainly due to expected growth in tourism. TGLYPH<159>rk Tuborg is one of two leading breweries in the Turkish market, and in 2001 the brewery realised satisfactory gains in market share, currently total- ling 23%. In 2001, Carlsberg Breweries acquired the con- trolling interest in TGLYPH<159>rk Tuborg, and the Carlsberg brand was launched in the summer of 2001 with satisfactory results. TGLYPH<159>rk Tuborg is thus able to supply beer within all segments with Carlsberg, Tuborg and local brands. Turkey is the biggest Tuborg market outside Denmark. During the year, the market has been deeply af- Carlsberg BreweriesGLYPH<213> activities in Russia, the Ukraine and the three Baltic States Estonia, Lithuania and Latvia are handled by Baltic Bever- ages Holding (BBH). BBH is a joint venture 50%- owned by Carlsberg Breweries and 50% by Finn- ish Oyj Hartwall Abp. BBH was established in 1991 and operates 12 breweries, of which three are situated in the Baltic States, seven in Russia and two in the Ukraine, where BBH also owns a malting facility. Since BBH was established, the company has acquired controlling interests in local breweries, taken over the local brands and ap- pointed local management boards. Due to a brand strategy focusing on the mainstream quality segment and BBH-support on marketing sales and distribution as well as quality improvements of Russia, the Ukraine, Belarus and the Baltic States Poland — Okocimskie Zaklady Piwowarskie S.A. Group Companies Eastern Europe, etc. Turkey — TGLYPH<159>rk Tuborg Bira ve Malt Sanayii A.S. BBH - Baltic Beverages Holding AB, Stockholm, Sweden 50% 12 subsidiaries owned by Pripps Ringnes AB Carlsberg Okocim S.A., Brzesko, Poland 81% 2 subsidiaries Panonska Pivovara d.o.o., Koprivnica, Croatia 40% AB Svyturys, Klaipeda, Lithuania 55% Israel Beer Breweries Ltd., Ashkelon, Israel 20% Nuuk Imeq A/S, Nuuk, Greenland 24% Piast S.A., Poland 98% 5 subsidiaries TGLYPH<159>rk Tuborg A.S., Turkey 82% 1 subsidiary OAO Vena, Russia 100% Carlsberg Malawi Brewery Limited, Blantyre, Malawi 49% Southern Bottlers Limited, Blantyre, Malawi Carlsberg Agency Inc., New York, USA 100% 1 subsidiary