CHINA: Nomacorc moves in for China wine boom
Nomacorc teams up with COFCO in China
Nomacorc has signed a deal with China's COFCO Wines & Spirits as the wine closure group positions itself for explosive growth in the country's wine industry.
Nomacorc and COFCO have formed a strategic partnership that will allow the Chinese firm access to Nomacorc's research and development programme in return for helping out the closure giant with studies on Chinese winemaking.
The move significantly strengthens Nomacorc's presence in China's strongly-tipped wine industry. "Right now, there is a huge emphasis on China’s emerging role in the global wine industry, so we are very energised about this timely partnership,” said Nomacorc's general manager for China, Michael Yi.
"We hope to acquire key insights about winemaking in China and are committed to being a first-class supplier to COFCO in the areas of product performance, quality and delivery," added Nomacorc's vice president of global operations and business development, Nagib Nasr.
COFCO will be able to use Nomacorc’s breakthrough NomaSense technology, a series of tools engineered to measure oxygen exposure specifically during bottling. It will also have access to the latest Nomacorc closures.
China's potential as both a wine consumer and producer has been highlighted by the International Organisation for Vine and Wine (OIV). China is already the world's fifth largest wine consumer, on 14m hectolitres per year, yet it has still to break into the top 12 wine drinking nations in terms of per capita consumption, according to OIV figures.
Wine production in China remained relatively stable between 2006 and 2009, at 12m hectolitres per year. But, the country was the sixth biggest producer in the world and produced more wine than Australia in 2009, said the OIV.
Fine wine merchant Berry Bros & Rudd has predicted that China will be the largest wine producer in the world within 50 years.
The market has been boosted by Hong Kong's decision in 2008 to scrap duty tax on wine, which has increased importers' access to China. China's Government is also said to favour wine over local spirit Baiju due to its lower alcohol content.
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