CHINA: InBev pins high hopes on China - report
InBev has high hopes for the Chinese beer market, the brewer's chairman said today (9 June). Pierre Jean Everaert told Reuters earlier today that the company expects China to provide one third of its cash flow by 2010. The Chinese market is still in need of consolidation, Everaert warned, while profits could sometimes be difficult to reap.
Speaking to a business forum in Shanghai, Everaert said: "By 2010, a third or more of our cash flow will come from this country." He did not detail which type of cash flow he was referring to.
"China is still a developing market, so profits have been low for a number of years. Right now, it's a step-by-step process," the 66-year-old later told Reuters.
InBev presently has 28 production sites in China and employs 14,000 people. InBev believes it is the third-largest brewer in China, with production capacity of 30m hectolitres and a market share of around 10%.
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