Despite of a decade-long spending spree by Japan's government to put some oomph back into the economy, the Japanese are still waiting for a turn-around. That's why Japan's top brewers have had to resort to cost-cutting measures to secure their profits in a shrinking domestic beer market. Their initiatives seem to have paid off as number one Asahi Breweries, the second-ranking Kirin Brewery Co. and number three Sapporo Holdings all reported strong earings for 2004. ..
Ten weeks from signing contract to switch-over - within this tight schedule, a team from Siemens AG replaced the whole automation equipment in a brewhouse at the largest Chinese brewing group. Production was resumed after only three days downtime, using Siemens Braumat.
Beer has been brewed successfully in Qingdao (Tsingtao) for over 100 years. This is evidenced not only by some medals won, the commercial success is also remarkable. Tsingtao Brewery Group was the first Chinese company to get a listing at the Hong Kong Stock Exchange. Currently, the Group is the largest brewer in China, with an annual output of 18.6 million hl (2000). The objectives are also pitched accordingly high: the Tsingtao Brewery Group has a long-term objective to be rated among the Top Ten worldwide. ...
In the old days you did what you wanted to do and then you talked about it. Today, you follow Carlsberg’s example. Words first, then perhaps - the deeds. As was reported, Carlsberg plans to get involved in wholesale trading of its brand in India as a first step of setting up operations in the country. Some approach to entering one of the most complex markets in the world, especially since Carlsberg’s competitors have already erected their power bases there and control almost 80 percent of the market. ..
While Heineken snapped up a 40 percent stake in Jiangsu DaFuHao Breweries, a deal valued at EUR22.1 million, Anheuser-Busch raised its stake in Tsingtao Brewery to 27 percent by exercising convertible bonds worth USD145.6 million. In the meantime, SABMiller has bought the Snowland Brewery in the eastern province of Anhui for USD 15 million in an effort to gradually but steadily become the country’s largest brewer. China Resources Snow Breweries, which is 49 percent owned by SABMiller and majority owned by China Resources Enterprise, has acquired the brewery from the Fuyang city government. This purchase brings to 38 the number of breweries SABMiller owns and runs through its venture in China, which is the world’s fastest-growing beer market at a rate of 7 percent to 10 percent a year. ..
The Foster’s Group announced that it has raised its stake in takeover target Southcorp to 91 percent on 26 May, allowing it to compulsorily acquire any outstanding stock in the company under Australian corporate law. The announcement means that Foster’s AUD 3.2 billion (EUR1.9 billion) or AUD 4.26 a share bid for Australia’s largest wine company Southcorp is now a formality. The takeover will create what Foster’s describes as the largest premium winemaker in the world, posting annual turnover of about AUD 14 billion (EUR8.6 billion). Southcorp owns brands such as Penfolds, Rosemount Estate, Wynns and Lindemans, while Foster’s labels include Beringer and Wolf Blass. ..
Foster’s has extended its offer for Southcorp until 14 April this year, thus gearing up for the next round of this protracted and hostile USD 2.5 billion takeover battle for Australia’s major wine company. In a letter to Southcorp’s shareholders Foster’s has repeated its initial offer of AUD 4.14 per share - a price which Southcorp’s board deems too low. However, Southcorp’s dithering is only part of the game to extract a better price from Foster’s, which may prove a tad bit difficult to achieve as in Southcorp’s case there is no rival bidder and Foster’s already has its foot on 18 percent of the company.
That’s why the two parties have to reach an agreement eventually, or there will be some very disgruntled Southcorp shareholders. Southcorp is a once-in-a-career opportunity.
In January 2005, Heineken and Tempo announced the establishment of a new company in Israel, which will handle all of Tempo’s beverages activities and brew Heineken in Israel. Heineken, which has owned 17.8 percent of Tempo until now, will own 40 percent of the new company and invest USD14.5 million in set-up costs. Tempo will own 60 percent of the new company, which it valued at USD69.5 million.
Heineken and Tempo said that Tempo would transfer the production of soft drinks, beer, fruit juices and mineral water to the new company. In addition, Heineken would grant Tempo a license to brew and market Heineken in Israel. According to the local media, Tempo is controlled by the Podhorzer, Bar and Bornstein families. The company is believed to control half of Israel’s beer market..
In January this year, Foster’s bought a large stake in the Australian wine company Southcorp, giving rise to rumours of a possible takeover. Foster’s acquired 18.8 percent of Southcorp, which owns the Penfolds, Lindemans and Rosemount brands, from the Oatley family for AUD4.17 per share. The Oatleys founded the Rosemount Estate brand and sold it to Southcorp in 2001 for USD762 million or 13.9 times EBIT.
Following the share deal with Foster’s, Robert Oatley and his son Sandy Oatley have both resigned from Southcorp’s board.
Southcorp employs 2,700 people and is the largest single investor in rural Australia according to its website. Its fortunes have been chequered in recent years due to the global glut in wine and the relatively high Australian dollar.1 billion (USD2.4 billion).
CUB, Foster’s Australian division, has just released a new low-carbohydrate beer, Pure Blonde. Rolled out nationally, it is aimed at the niche market of consumers aged 24 - 40 who won’t compromise on taste but are health and image conscious. It retails for about the same price as Carlton Draught and was developed through CUB’s innovation process in just 90 days.
A quarter of a century after the Islamic revolution Iran is to increase its output of alcohol-free beer. Are the Ayatollahs finally caving in to popular demand? Or are they just following the time-honoured principle of rule by distraction? Call them pragmatists or cynics or both - in Iran everything has two sides.
It’s an eerie place, the late Shah’s White Palace in northern Tehran. Built by his father Reza Shah in 1936 the two-storey building with its 54 rooms must be one of the icons of 20th century power architecture. Think Albert Speer’s Berlin, Mussolini’s Rome, Ceausescu’s Palace of the People or Thatcher’s London Docklands and you’ll get the picture. In Tehran that happened 25 years ago..