CHINA: Tsingtao Brewery looks beyond China - report
Tsingtao Brewery is reported to be considering opening more breweries in South East Asia, to supplement growth in its native China.
Tsingtao, which is 20%-owned by Japan's Asahi Breweries, is building a brewery in Thailand with the local Namyong Group. There could be more to follow, according to reports.
The China Daily newspaper today (10 January) quoted Tsingtao's deputy manager for international business, Ma Ning, as saying that the group "isn't excluding the possibility" of opening more breweries in the South East Asia region. No-one was available at Tsingtao to confirm the reports to just-drinks.
While Tsingtao beer is already available in many countries, including the US and India, the brewer itself has proved cautious in expanding its capital resources beyond China. In addition, strong growth in China's beer market has made domestic sales a priority.
For the nine months to the end of September, Tsingtao's net profits rose by 11% to RMB1.66bn (US$263m). Net sales jumped by 17% to RMB18.89bn.
Tsingtao's third-largest shareholder, billioniare Chen Fa Shu, has netted HKD1.5bn (US$192m) from a selldown of his shareholding in the brewery, according to local reports. ...
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