Argentine Grand Cru Invests $300,000 in Uruguayan Unit
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Argentine Grand Cru Invests $300,000 in Uruguayan Unit

La Nacion - Argentina, Infobae, AII Data Processing Ltd. Argentine wine distributor Grand Cru has invested $300,000 (254,600 euro) in its recently opened unit in Uruguay, it was reported on November 21, 2005.

The company will import wines from Argentina, Chile, France, Spain and Italy. Grand Cru plans annual investments of $600,000 (509,300 euro) in the first year of operations of its Uruguayan unit, located in Punta del Este, southeastern Uruguay. Grand Cru (www.grandcru.com.ar) was established in Argentina in 1999.

Over 6,000 wine brands are currently registered in Argentina, according to data of the national institute for intellectual property (INPI), local press announced on November 21, 2005. The number of registered brands of alcohol currently tops 7,000, compared to 3,000 registered in 2003.

The value of Argentine wine exports is expected to top the record high $410 mln (348 mln euro) in 2005, up by over 30 pct year-on-year, the Latin America News Digest reported on November 8, 2005.

The exports of Argentine wines reached the record-high figure of $302.6 mln (256.9 mln euro) in 2004, up 35 pct year-on-year, according to the Argentine wine institute INV.

(Note: The abstract combines information from Argentine daily newspapers La Nacion and Infobae, published on November 21, 2005)

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