HOLLAND: Heineken announces brewery closures
Heineken is set to close five breweries in Europe, Dutch news reports said today. The Dutch brewer was reported to have said at a press conference that five of Austrian brewer BBAG's 22 breweries will be closed as a part of Heineken's BBAG integration.
Heineken completed its acquisition of BBAG in January when it closed its public offer to buy the brewer's outstanding shares. The Dutch brewer now owns 98.73% of BBAG.
The breweries that are set to close are located in Austria, Poland, Slovakia, Romania and Hungary. The company has not ruled out closing more breweries in the future, but would not specify how many.
Heineken expects its BBAG takeover to lead to €80m (US$101.42m) synergy benefits in 2007. In addition to the €40m cost savings from overlapping activities, Heineken expects €20m worth of benefits from the BBAG reorganisation in Austria. The sale of Heineken brands through BBAG's distribution network is expected to bring another €15m, while the sale of BBAG fruit beverage Pago in Spain and France is expected to bring in €5m.
Dutch brewer Heineken is rumored to have released a self-chilling beer can....
ING has raised its target for Heineken's share price after analysing the brewer's options to save costs....
Heineken's CEO-in-waiting has no plan to radically alter the brewer's strategy, he said in an interview today....
Heineken has restructured its top management, in a move that includes the retirement of current CEO and chairman Thony Ruys from October this year....
Heineken said yesterday that its Austrian subsidiary Brau Union AG has signed an agreement for the divestment of its Real Estate Division. This division comprises all non-business related real estate ...
Heineken has acquired a 40% stake in a Chinese brewery....
Heineken Espana is looking to invest heavily in a new plant in southern Spain....
Grupo Empresarial Bavaria is not looking to sell up, its president has confirmed....
- Focus - Diageo's FY Performance by Region
- It's not all bad for Diageo - Analysis
- Diageo " knew United Spirits would be complicated”
- Focus - Diageo's FY Performance by Brand
- Diageo upbeat on Scotch prospects
- Challenges remain as Diageo posts flat FY sales
- Edrington appoints new board director
- Britvic appoints SABMiller's Dunn as CFO
- Bacardi creates Bacardi rum marketing role
- Q2 drags on half-year for Anheuser-Busch InBev
- Global gin insights - market data, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global liqueurs insights - market forecasts, product innovation and consumer trends research