DENMARK: Royal Unibrew sells Polish brewery
Danish brewer Royal Unibrew has sold its Koszalin brewery in Poland to Polish brewer Van Pur, as part of a restructuring plan.
Royal Unibrew, which last month announced that it planned to close the Koszalin brewery, said today (27 March) that it hoped the sale would be complete by the end of April. Employees will be transferred to Van Pur as part of the deal.
Unibrew president and CEO Henrik Brandt declined to give financial details of the sale when contacted by just-drinks today.
Unibrew last month reported a DKK455m (US$81m) impairment charge on its Polish operations for 2008. It said that its Polish division produced a "highly unsatisfactory and material operating loss" during the year, due to falling beer sales in the country and the company's poor product mix.
As part of a restructuring plan for Poland, Unibrew said that it would close Koszalin and transfer brewing capacity to its largest brewery in the country, in Lomza.
Unibrew said today that the Koszalin disposal, which is subject to approval by Poland's competition regulator, will boost group cash flow in 2009.
Unibrew's net revenue reached DKK4.17bn last year, reflecting an 8% increase on 2007.
Royal Unibrew, the Danish brewer, is to sell its shares in its Dominica, St. Vincent and Antigua breweries to Cerveceria Nacional Dominicana (CND) in a bid to reduce its debt....
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