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CHINA: Yanjing Beer eyes double-digit growth in 2007

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Yanjing Beer Group plans to invest significantly in boosting production in 2007, with its sights set on achieving double-digit sales growth in the year.

The domestic Chinese brewer said today (7 March) that it is targeting a sales increase of 13.3% this year. This growth would take total sales for the brewer to 4m tonnes.

Speaking to the Reuters news agency, company chairman Li Fu Cheng said investments in upgrading its operations would increase from the CNY200m (US$25.84m) spent last year, to CNY300m this year. Li also told the news service that it was important for local brewers to modernise in the face of competition from multinational groups that were entering China.

"Local brewers must use the most modern equipment to remain competitive," he said.

Li went on to say that, whilst the group remained open to a potential deal with a foreign player about a possible investment, he was not currently in talks with anyone. "We have plenty of access to capital market funding," he said.

At present, Yanjing is the only major Chinese player yet to team up with a global partner.


Sectors: Beer & cider

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