AUSTRALIA: Foster's US grape harvest up
Foster's Californian grape harvest for 2003 rose by 6% year-on-year, the company announced today. The total harvest at its Beringer Blass Wine Estates reached 140,600 tonnes.
AFX reports that Beringer Blass managing director Walt Klenz said that overall wine production in the state is expected to be down by between 5% and 10% on last year. Foster's said that the increase shows the higher bulk wine purchases designed to ensure Beringer Blass can support the rise in demand for its white zinfandel and blush wines programs.
The harvest at Foster's own vineyards increased by 3.3% on last year to 25,400 tonnes. The split of 27% red and 73% white is the same as last year's.
Klenz told AFX: There are encouraging indications that bulk wine pricing in California has firmed, albeit from a lower base."
A revised assessment by Southcorp's independent expert has valued the company's shares closer to the bid value offered by Foster's Group....
Australian liquor giant Foster's bid for winemaker Southcorp is gathering momentum....
As one takeover story trundles on, another one has just moved up a gear....
The chief executive of Foster's believes the global premium wine industry is on the upturn....
Foster's Group Ltd is expected to announce that it is lifting its offer for fellow Australian Southcorp, transforming three months of corporate hostility into a friendly takeover....
Shares in Southcorp and Foster's have been halted from trading, pending an announcement....
Southcorp's share price has dropped below the offer price made by Foster's for the first time today (18 April)....
Foster's Group is considering upping its bid for Southcorp prior to extending its offer once again....
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