AUSTRALIA: Reynolds shares suspended
The wine group, based in New South Wales, has experienced trading troubles for the past year and its present woes are the result of a A$10m tax ruling dating back to its predecessor Cabonne, which acquired Reynolds in 2000.
Reynolds shares last traded at A$0.079 (US$0.05) having listed at A$1 (US$0.64) in mid-1999.
The tax issue aside, wine analysts say the Reynolds' experience is an instance of the large working capital being the primary issue for small producers.
At the other end of the market, the US wine giant E & J Gallo is gearing up for a major entry into Australia by, according to market rumour, increasing its stake through on-market buys in McGuigan Simeon Wines. Gallo distributes Simeon McGuigan"s Black Swan brand in the US.
Having been something of a European institution for years, the end of duty-free, the lowering of some Nordic duty rates and cheaper prices in domestic supermarkets have combined to reduce the allure o...
The UK market is developing in terms of sales and sophistication. Drawing on up-to-the-minute consumer research, Alex McPhee, Neville Calvert and David Matthews of management consultants, KPMG, examin...
Gallo has finally reached an agreement with the union United Farm Workers, after around two years of talks....
Thresher has selected E&J Gallo to produce its own-label California wine range....
Heineken USA has appointed a new general manager for its Central Region....
E&J Gallo winery is launching its first French wine brand, Red Bicyclette, in the UK....
Ernest and Julio Gallo has become the target for protests from workers in the US....
National Wine & Spirits has posted its figures for the fiscal year 2005....
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