Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Uvic is a convenience food producer that was established in 1993. In October 2006 the company opened a new factory producing dumplings, meatballs and cutlets. Uvic also produces pancakes using different fillings and vareniky (dumplings containing berries, potato or curds instead of meat). Uvic holds 60-70% of dumplings market in Estonia and the new factory increases its production six times (up to 84 tons of products per day). About 80% of the products will be exported to Latvia, Lithuania and probably also to Russia. At present, Uvic has 120 workers, but the new factory is to double the number of employees.
According to the newspaper Uvic is owned by Russian Alexander Musarev who is currently applying for Estonian citizenship.
Eurofound (2006), Uvic, Business expansion in Estonia, factsheet number 64209, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64209.
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