Let’s buy another one...
China’s largest brewer, Tsingtao Brewery, Shandong, seems determined to drive hard in the race to consolidate the Chinese beer market. Last year, Tsingtao bought 15 breweries, thus nearly doubling (+ 92 %) its production to 10.7 million hl beer. It also started a new plant in Shenzhen. Net profit stood at US$ 4.9 million, up 3.7 %. Its mounting debt load has caused some worry but Tsingtao decided to move on. Throughout 2000, it continued its spending spree although at a slower pace. In August, Tsingtao splashed out US$19 million in cash to relieve Carlsberg AS of its 75 % stake in Carlsberg’s Shanghai Brewery, which has an output of one million hl of beer annually. from the Asian Strategic Investment Corporation (Asimco) for a total of US$ 22.5 million. China currently imports between 2..
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