E-Malt.com News article: 2785

China: Interbrew, the third biggest beer maker in the world, recently held its senior directorate in Wenzhou City of Zhejiang Province and said it would speed up acquisition in China's beer market, SinoCast posted on June 10. Fourteen directors of Interbrew arrived in Wenzhou City from the headquarters in Belgium and talked about acquirement of China'sbeer factories.

John F. Brock, CEO of Interbrew, revealed that they have come to Wenzhou City mainly because it is an important market in China.

Insiders disclosed, "The great increase in Chinese beer market will probably draw the directors' attention." He said Interbrew had acquired over 30 beer enterprises in 18 countries, including more than 200 brands. China is the next key market.

In 2002, Interbrew acquired 70 percent shareholding in Zhengjiang Kaikai Group and purchased a 24 percent stake in Zhujiang Beer. In 2004, Interbrew bought 50 percent shareholding Malaysia Lion Group's business in China for CNY 131.5 million.

Insiders expect fiercer competition in China's beer market after Interbrew enters.



16 June, 2004