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Showing 20 results out of 10000
News

PHILIPPINES: San Miguel chairman to remain in place

The Philippine government has said that Eduardo Cojuangco, chairman of food and beverage combine San Miguel Corp., can remain in his job. Cojuangco was a known supporter of ousted leader Joseph Estrada and late president Ferdinand Marcos.

News

CZECH REPUBLIC: Anti-monopoly authorities in bottled water probe

The Czech competition authority, the UOHS, is investigating reports that the bottled water company, Karlovarske Mineralni Vody (KMV), is already managing the companies, Podebradka and Hanacka Kyselka before it has officially been given the official go-ahead to acquire them.

News

AUSTRALIA: Merger speculation as wineries halt share trading

Australian wineries, Brian McGuigan Wines Ltd and Simeon Wines Ltd, have both brought trading in their shares to a halt, fuelling speculation that they are poised to enter merger talks or are preparing for a major deal. Both wineries said they were in negotiations with a "a third party".

News

CHINA: SAB to invest $100 million in China

Brewing conglomerate, South African Breweries, is planning to invest $100 million in the Chinese beer industry over the next three years in both acquisitions and marketing, according to a report in the China Daily newspaper. The company has already invested around $100 million in China through numerous acquisitions.

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SOUTH AFRICA: Distell interim results show growth

  A substantial depreciation of the South African Rand towards the end of last year helped boost Distell's international sales revenue, impacting positively on headline earnings, which in turn increased by 36% to R208.9m (US$18.2m) for the six months to December.

News

JAPAN: Leading brewers post mixed results

Asahi Breweries and Kirin Brewery, Japan's leading beer makers announced their earnings for 2001 today in what was a mixed bag, with Asahi coming out of the year the stronger of the two operations.  Despite difficult conditions and escalating marketing costs, Asahi posted a year-on-year rise in both group sales and profits. The performance was in part driven by its entry into the low-malt beer market, a sector growing due to its cheaper price.

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SWITZERLAND: Kronenbourg Suisse sales up 11% in 2001.

Kronenbourg Suisse, the Swiss subsidiary of Kronenbourg, the French beer producer owned By Scottish & Newcastle, today reported sales of 182,000 hl for 2001, a rise of 11% on the previous year. The fourth largest operator in Switzerland, Kronenbourg Suisse saw turnover of SF45.5m (US$26.8m) for the year. 

News

AUSTRALIA: McGuigan and Simeon Wines to merge

Rumours of further M&A activity in the Australian wine industry, reported in just-drinks yesterday, have proved true today with the announcement that Simeon Wines Ltd, Australia's third largest grape processor, and Brian McGuigan Wines Ltd are to merger.

News

EUROPE: EU approves use of GM vines

The development of genetically engineered varieties of vines within the European Union has - in effect - been approved by the EU Council of Ministers, which has agreed detailed changes to the European directive on the marketing of material for the vegetative propagation of the vine. These approve the release of genetically modified (GM) vines "only if all the appropriate steps have been taken to avoid endangering human health and the environment." The Council added that this would entail environmental impact assessments being carried out.

News

INDIA: Coffee production set to fall

By Wineetha Dian Wickramanayaka Indian coffee production could slump in the next crop year, (October 2002 to September 2003), industry analysts have claimed, citing a 25-40 per cent drop in fertilizer usage and lay-offs. Poor yields in the current growing year are also expected, with projections falling from 325,000 to 306,000 tonnes and some gloomy estimates predicting a 280,000 tonne crop.

News

GERMANY: Turnover up by 2.8% at Brauerei C&A Veltins

C&A Veltins, Germany's fourth largest brewer, recorded a 2.8% increase in turnover in 2001 to €205m (US$178.4m). Production rose by 0.4% to 2.4m hls. The company said the small progression was achieved in spite of worsening market conditions.

News

JAPAN: Pokka to cut workforce by 20%

Japanese soft drinks producer, Pokka Corp, has announced it is to cut 162 jobs, amounting to 20% of its workforce, by March this year through a voluntary retirement programme. The Nagoya-based group said the programme was aimed at employees between the ages of 36 and 59 who have been with the company for more than 10 years.

News

FRANCE: Pernod Ricard confirms chase for Malibu

French-based international drinks group, Pernod Ricard, has confirmed its interest in buying Malibu from Diageo which is selling the rum specialty brand in order to comply with US regulatory stipulations following its joint acquisition with Pernod Ricard of the Seagram drinks business. A Pernod Ricard spokesman said that the company was in talks with Diageo regarding Malibu. Other companies thought to have submitted bids are Fortune Brands and Allied Domecq.

News

FRANCE: Taittinger reports 3% rise in turnover

French Champagne to hotels group, Taittinger, reported turnover of €788m (US$686m) for 2001, representing an increase of 3.4% from 2000. However, turnover showed a 12% decline to €204m ($177.5m) in the fourth quarter. In addition to its well known Grande Marque Champagne, Taittinger also produces wines and spirits and operates hotels and restaurants.

News

CHILE: Net profit declines by 46% at Coke bottler

The Chilean Coke bottler, Embotelladora Andina SA (AKOB), reported a net profit of US$16.5m in the fourth quarter of 2001, representing a 46% decline from the $30.4m net profit in the final quarter of 2000. The company, which operates in Chile, Brazil and Argentina, said the fall was due to weak regional economies and in particular the worsening economic situation in Argentina. The depreciation in the Chilean peso and Brazilian real was also said to have negatively affected AKOB's performance.

News

MEXICO: Coke bottler suffers Argentine decline

Mexico's largest Coke bottler, Coca-Cola Femsa (KOF), reported a decline in volumes in Argentina in January and anticipates further falls in February and March as a result of the country's economic problems. The company added that a 22% average price increase would also have a negative impact on volume sales.

News

DENMARK: Carlsberg replaces CFO

Danish brewing group, Carlsberg A/S, has replaced its chief financial officer after it received a rebuke from the Copenhagen Stock Exchange for giving guidance regarding its financial outlook to certain analysts prior to the publication of its results. Per Broendum Andersen is to take over as the group's chief financial officer, replacing Jesper Baerenholdt who is to assume other duties within the company.