The Executive Board of Krones AG is convinced that the price of the Krones stock, against the background of the crisis on the financial markets, does not adequately reflect the profitability and the future prospects of Krones AG. In view of the company’s good liquidity situation, the buyback will be funded from the firm’s own resources.

Performance over the seasonally weak months of January and February is expected to continue this trend, C&C Group announced. Accordingly, the group anticipates overall operating profit for the full year to 28 February 2009 to be EUR 90 million.

The transaction will be completed after securing the agreement of the relevant competition authorities, including approval by the European Commission.

SABMiller posted a surprise drop in beer volumes on 15 January 2009 when it announced its third quarter figures (ended 31 December 2008). Third-quarter lager volumes fell 1 percent on an organic basis, compared with expectations of a rise of up to 3 percent.

The current economic crisis has brought to an end the consumer boom in Russia and will lead to almost zero real disposable income growth in the near future, as companies are laying off people and reducing salaries.

To the financial markets, however, growth rates that are below last year’s are disappointing. That’s why, following Pernod Ricard’s announcement, JPMorgan issued a “neutral” rating for Pernod Ricard.

Belgium’s beer industry saw its sales volume drop below the level of 9 million hl of beer in 2008. In 1990, the brewers still sold 12 million hl on their domestic market. That’s a decline of more than 30 percent. It is small consolation to Belgian brewers that each year beer exports have compensated the sales losses in Belgium.

The Carlsberg Group announced that Khalil Younes, 45, has been appointed Senior Vice President, Group Innovation, Sales & Marketing and Nils Østbirk, 44, has been appointed Senior Vice President, Western Europe.

Beer sales are sinking and many pubs are struggling to survive. Pub closures have escalated to nearly six a day. Pubs have been struggling for some time – last year they were closing at the rate of five a day, amid rising costs and pressure from developers. But the credit crunch is hitting them even harder.

The newest weapon for Pilsner Urquell in the Czech beer wars is an eleven degree Plato beer called “Gambrinus Excelent”. “Eleven degrees is the next step. Enhanced, but still highly drinkable,” explains Jiri Rakosnik, senior brand manager for Gambrinus. “Usually after two or three 12 degree beers you have a flat tongue. But Gambrinus 11 is still drinkable.”