E-Malt.com News article: 3070

China: The Danish brewery group Carlsberg A/S announced on August 5 that the company has signed a contract with Lanzhou Huanghe Brewery (LHB) to establish four subsidiaries. LHB has been operating three breweries and holds a 36 percent market share in Gansu Province in Western China.

In details, Lanzhou Huanghe Enterprises Co., Ltd., the parent company of LHB, agreed to invest beer brewery assets and facilities valued at CNY 150 million (US$18.1 million) to set four subsidiaries in Lanzhou City, Tianshui City, and Jiuquan City and Qinghai Province respectively, cooperated with Carlsberggroup and the Danish Industrialization Fund for Developing Countries (IFU) that will jointly invest CNY 150 million in the four joint ventures. The Chinese investor and foreign investors will hold a 50 percent stake respectively in the four joint ventures that are scheduled to reach a combined annual output of 300,000 tons after the first phase construction finished.


06 August, 2004