Binding-Group to become Radeberger Gruppe AG
Old habits die hard. As part of its restructuring programme, Germany’s No 2 brewing group Binding is going to reduce its debt load to nil, take excess capacity off stream and reorganise its portfolio of brands under one umbrella. Now why Binding thinks being free of debt such an important goal - your guess is as good as ours. In any case, Binding hopes to complete its three-year strategy termed "margins rather than volume" this year. With Radeberger having become the group’s most important beer brand, the former holding, Binding Group, will be renamed Radeberger Group after the AGM in July. When Binding reported its 2001 results in May, many wondered if the group was not being made pretty for a sale. In the end every business is for sale, provided the price is right.3 million.8 million hl.
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