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E-Malt.com Newsletter 10a
March 07 - March 09, 2016
Quote of the Week
"The exciting thing about being a beer lover is that there is so much to enjoy beyond the sensory pleasure of drinking beer."
Anonymous
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Currency Rates
Base Currency: US Dollar
on March 09, 2016 |
Base Currency: Canadian Dollar
on March 09, 2016 |
| |
1 USD = 0.9074 EUR
1 USD = 0.7025 GBP
1 USD = 1.3338 CAD
1 USD = 1.3433 AUD
1 USD = 112.9400 JPY
1 USD = 3.7733 BRL
1 USD = 73.1854 RUB
1 USD = 6.5174 CNY
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1 CAD = 0.7496 USD
1 CAD = 0.5266 GBP
1 CAD = 0.6802 EUR
1 CAD = 1.0069 AUD
1 CAD = 84.6600 JPY
1 CAD = 2.8285 BRL
1 CAD = 53.4807 RUB
1 CAD = 4.8856 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA, FL: Wynwood Brewing Co. owners looking for a second location
...Click here
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Canada, ON: Split Rail Brewing Company busy preparing to ramp up production facilities
...Click here
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USA, WI: Milwaukee Brewing Co. to open new brewing facility in the Pabst Brewery complex in Milwaukee
...Click here
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USA, NJ: Jughandle Brewing Company on pace for a May opening in Tinton Falls
...Click here
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USA, MA: Tree House Brewing to build a new brewery in Charlton, MA
...Click here
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USA, IL: Oak Park Brewing Company hoping to open around St. Patrick's Day
...Click here
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USA, MI: The Creston Brewery almost ready for official opening in Grand Rapids
...Click here
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USA, MO & MI & KY: Boulevard Brewing starts distributing its beers in Michigan and Kentucky
...Click here
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USA, MI: Arcadia Ales & Smokehouse slated to open in Lansing in August
...Click here
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USA, MI & CO: Perrin Brewing to start selling its beers in Colorado by early April
...Click here
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UK: Barley and wheat usage by brewers, maltsters, distillers declines in July-January 2015/16
...Click here
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China: Competition in China’s beer industry intensifies
...Click here
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Turkey & CIS: Anadolu Efes manages to narrow losses in 2015
...Click here
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China: Consumers’ shift towards high-end beers may help brewers finally unlock frothier profits in China
...Click here
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World: Malting barley markets ‘interesting and confused’ - analysts
...Click here
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New Zealand: Lion posts 21% decline in full-year earnings as craft beers continue to take market share
...Click here
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Ukraine: Barley acreage expected to grow 5% this year
...Click here
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Jamaica: Heineken officially takes over management of Red Stripe Beer
...Click here
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Vietnam: Carlsberg Vietnam launches new canning line at Hue brewery
...Click here
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India: United Breweries may be pressured to force out Vijay Mallya from the board
...Click here
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Malawi: SABMiller’s Chibuku beer plant allowed to resume production
...Click here
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India: The Debt Recovery Tribunal bars Vijay Mallya from accessing exit payment from Diageo
...Click here
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Myanmar: Carlsberg may face lawsuit for not removing the words ‘tu po’ from its Tuborg beer
...Click here
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Graph of the Week
Table of the Week
EU Barley Malt Export
Prices Evolution
Barley Prices
Canadian Malting and Feed Barley Prices
US Malting and Feed Barley Prices
French Malting and Feed Barley Prices
German Malting Barley Prices
Theoretical Malt Prices
Canadian Malt Prices
US Malt Prices
Theoretical EU Malt Prices
Scientific Digest
WHAT DETERMINES THE UNIQUENESS OF A HOP VARIETY?
ABSTRACT
A Japanese research group has been hunting the
mystery of hop aroma in beer for a long time. In this
recent work they brewed late hopped and dry hopped
beers with 18 different hop varieties! From the U.S. they
looked at Apollo, Bravo, Citra, Mosaic and Summit.
From Germany were Hallertau Blanc, Huell Melon,
Mandarina Bavaria and Polaris. Then from New Zealand
were Kohatu, Motueka, Nelson Sauvin, Pacific Jade,
Rakau, Riwaka, Southern Cross, Wai-iti and Wimea.
The researchers were looking for varietal differences
especially in different monoterpene alcohols. They
found no varietal differences in beta-ionone and nerol
content, but did see variations in the other components
studied - but the differences were not coherent. Things
are never easy with hops!
Takoi, K: Varietal Difference of Hop-Derived Flavour Compounds in Late-Hopped/Dry-Hopped
Beers, Brewing Science, January / February 2016 (Vol. 69)
Read more
Source: Barth Innovations
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These Days in Business History
07 March
1876 - 1876 Alexander Graham Bell receives U.S. Patent for his "Improvement in Telegraphy"
1878 - The Toronto Stock Exchange is incorporated
1932 - Thousands of Ford Motor Co. workers stage a "Hunger March" to the immense River Rouge factory complex, protesting Henry Ford's decision to cut the company's minimum wage from $7 per day to $4 per day
08 March
1706 - Vienna's Wiener Stadtbank established
1927 - Pan American Airlines (World Airways) incorporates
1946 - 1st helicopter licensed for commercial use
1979 - Philips demonstrates the Compact Disc publicly for the first time
09 March
1861 - Confederate currency authorized-$50, $100, $500, $1,000
1959 - 1959 Barbie, the popular girls' doll, debuted, over 800 million sold
1987 - 1987 Chrysler Corp offered to buy American Motors Corp for $1 billion
Agenda
March 2016:
01-03: ProPak Vietnam 2016 (Ho Chi Minh City, Vietnam)
04-06: Barcelona Beer Festival 2016 (Barcelona, Spain)
07-09: VLB Brewing and Engineering Conference 2016 (Soest, Germany)
09-12: Brazilian Beer Festival 2016 (Blumenau, Brazil)
12: Festival de Cerveza Artesanal 2016 (San Jose, Costa Rica)
14-18: IBD Asia Pacific Convention 2016 (Sydney, Australia)
16-18: BeerX 2016 (Sheffield, UK)
16-18: Expo Antad & Alimentaria Mexico 2016 (Mexico City, Mexico)
23-25: St. Petersburg Brewers Forum 2016 (St. Petersburg, Russia)
April 2016:
03-07: Trends in Brewing 2016 (Ghent, Belgium)
07-09: Warsaw Beer Festival 2016 (Warsaw, Poland)
13-15: Siberian Beer 2016 (Novosibirsk, Russia)
15-16: Helsinki Beer Festival 2016 (Helsinki, Finland)
23-24: Zythos Beer Festival 2016 (Leuven, Belgium)
May 2016:
03-06: Craft Brewers Conference & BrewExpo America 2016 (Philadelphia, USA)
17-20: Beer (Pivo) 2016 (Sochi, Russia)
18-19: Brewing Equipment and Technology 2016 (Birmingham, UK)
19-21: Copenhagen Beer Festival 2016 (Copenhagen, Denmark)
20-18 June: Great Australian Beer Spectacular (GABS) 2016 (Melbourne - Sydney - Auckland, Australia)
25-29: Latvia Beer Fest 2016 (Riga, Latvia)
June 2016:
08-12: Mondial de la Biere 2016 (Montreal, Canada)
09-11: South Beer Cup 2016 (Curitiba, Brazil)
14-16: Shanghai International Brew & Beverage Manufacturing Technology and Equipment 2016 (Shanghai, China)
July 2016:
02: Beer Boot Camp 2016 (Johannesburg, South Africa)
07-10: Artbeerfest 2016 (Caminha, Portugal)
09: Beer Boot Camp 2016 (Cape Town, South Africa)
13-15: ProPack China 2016 (Shanghai, China)
August 2016:
05-07: The 20th International Berlin Beer Festival (Berlin, Germany)
09-13: The Great British Beer Festival 2016 (London, UK)
10-13: Vietfood & Beverage - ProPack 2016 (Ho Chi Minh, Vietnam)
13-17: World Brewing Congress 2016 (Denver, USA)
September 2016:
08-10: Irish Craft Beer Festival 2016 (Dublin, Ireland)
14-15: Food and Drink Technology Africa 2016 (Johannesburg, South Africa)
19-03 October: Oktoberfest 2016 (Munich, Germany)
24-25: Whisky Live Paris 2016 (Paris, France)
26-28: VLB Ibero-American VLB Symposium 2016 (Santiago de Chile, Chile)
28-30: Beer and Soft Drinks Industry - 2016 (Kyiv, Ukraine)
29-01 October: Stockholm Beer & Whisky Festival 2016 (Stockholm, Sweden)
October 2016:
06-08: Stockholm Beer & Whisky Festival 2016 (Stockholm, Sweden)
06-08: Great American Beer Festival 2016 (Denver, USA)
08-10: Brouwplus 2016 (Antwerp, Belgium)
11-14: China Brew, China Beverage 2016 (Shanghai, China)
21-23: The Finest Spirits & Beer Convention 2016 (Bochum, Germany)
November 2016:
08-10: Brau Beviale 2016 (Nuremberg, Germany)
09-12: Vietfood & Beverage - ProPack 2016 (Hanoi, Vietnam)
December 2016:
15-17: drink technology India 2016 (Mumbai, India)
More events are available on site www.e-malt.com
News Articles
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USA, FL: Wynwood Brewing Co. owners looking for a second location
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Wynwood Brewing Co., Miami's first craft beer production company, has outgrown its 7,200-square-foot space in Miami, and the owners want to expand the business at a second location, the Business Journal has learned.
Founder Luis G. Brignoni and his father and co-founder Luis "Pops" Brignoni say they're looking for suitable sites in Miami-Dade County for an additional 30,000 square feet of space where they can open up another taproom and produce more beer to meet the demand.
"More people want our beer and, unfortunately, we have to turn them away," Luis G. Brignoni said. "We hate doing that."
Wynwood Brewing is on track to produce about 5,000 barrels of craft beer this year, with heightening demand for local craft beer and strong partnerships with big businesses such as Norwegian Cruise Line. With the new facility, the duo says they can produce more than 30,000 barrels.
The added space will also double Wynwood Brewing's staff to 40 employees, Luis G. Brignoni said. But sites that fit the bustling brewery's needs are hard to find.
"There are not too many areas in Miami for manufacturing facilities," Luis "Pops" Brignoni said. "We want to have some decent land we can grow into."
The company expects to start producing at
...More info on site
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Canada, ON: Split Rail Brewing Company busy preparing to ramp up production facilities
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Manitoulin’s Split Rail Brewing Company has been busy over the winter months as they prepare to ramp up their production facilities to meet increasing demand for their products, but it isn’t only bricks and mortar infrastructure that is on the build—there are three new brews on the rise, Manitoulin Expositor reported on March 9.
“We are very excited,” said co-owner Andy Smith, who along with business partner Eleanor Charlton founded Split Rail Brewing Company a couple of years ago. “We spent some time this winter coming up with three new recipes to introduce at the Stack Brewery festival and they all really went over well.”
Split Rail Brewing Company took part in Stack Brewing’s Northern Microbrew Festival in Sudbury on Saturday, March 5, and the three new Split Rail Brewing Company offerings, LoonSong Oats Stout, Summer Wheat and Golden Lager, were joined by made-on-Manitoulin favourites Hawberry Ale, Copper Lager and Amber Ale in slaking the thirsts of the more than 800 beer aficionados who attended the event.
“It was really cute,” said Ms. Smith, “people kept coming back and asking for a LoonSong. We might have to change the name.” The brewer explained that the LoonSong Oats Stout is made from a recipe
...More info on site
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USA, WI: Milwaukee Brewing Co. to open new brewing facility in the Pabst Brewery complex in Milwaukee
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Milwaukee Brewing Co., the first craft brewery to plant a flag in Walker's Point, plans to expand production by opening a new brewing facility in the Pabst Brewery complex downtown, Milwaukee Journal Sentinel reported on March 7.
The project, one of the last redevelopment pieces at the former Pabst site, is the latest in an explosion of new breweries in Milwaukee, with more than a half-dozen expected to open in the area this year.
"It's kind of refreshing to see Milwaukee coming alive with more variety and more opportunities for beer exploration," said Mark Garthwaite, executive director of the Wisconsin Brewers Guild.
Milwaukee Brewing is working with Zilber Ltd. to turn a former Pabst distribution center at 1131 N. 8th St. into a destination brewery with a tasting room, brewery tours and a rooftop bar that takes advantage of its location on a hill overlooking downtown.
Construction is expected to begin in midsummer.
The distribution center, built in 1977, is one of the last former Pabst Brewing buildings that haven't been redeveloped. Pabst closed the brewery in 1996.
Milwaukee Brewing will keep its space at 613 S. 2nd St. for use as a pilot brewery and to expand its award-winning barrel-aged beer program and sour beer
...More info on site
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USA, NJ: Jughandle Brewing Company on pace for a May opening in Tinton Falls
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Work has been underway since late 2015 at Jughandle Brewing Company, which will soon operate out of an approximately 3,200-square-foot former flower shop in the Tinton Falls Centre Plaza on Asbury Avenue, NJ.com reported on March 4.
The brewing equipment has been delivered, all that's left is to hook it up, make some finishing touches, get a permit and then start brewing.
The brewery is owned and operated by three friends – Pete Artherholt, Chris Hanigan and former Tinton Falls Mayor Michael Skudera – and is on pace to open by the spring.
"We're probably two or three weeks away from being finished with our build out, then we should be ready to get the inspection from the state and then we're ready to start brewing," Skudera said. "Right now we're on pace for a May opening, which would give us plenty of time to brew, to have a couple soft openings and to make any adjustments we need to make before we actually open the doors."
Jughandle Brewing will initially be able to produce up to 4,000 barrels – 31 gallons per barrel – of craft beer annually and will be open to the public for tours and tastings.
When the brewery officially opens,
...More info on site
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USA, MA: Tree House Brewing to build a new brewery in Charlton, MA
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Tree House Brewing - the highly acclaimed but hard-to-get craft brewery out of Monson -- announced on its website on March 8 that it plans to expand operations to Charlton, where it plans to build a new brewery.
Tree House co-founder and head brewer Nate Lanier wrote on the site's blog on March 8 that the brewery is working on breaking ground on the construction this year and is aiming "to be operational in the first half of 2017 (we hope)."
The brewery's new location will be a 45,000 square foot facility that will feature a 30,000 barrel capacity to start and an expanded retail location "where can sales, bottle sales, and full pours will be offered at least five days a week," Lanier wrote.
Having full pours available in a tap room setting would be a big step forward for Tree House, which currently cannot serve on site at the Monson location outside of samples.
The announcement comes as a sign of remarkable growth for the brewery, which has become famous among beer critics in recent years for its highly graded brews that routine draws lines out the door of its current location, which is limited to can sales and growler fills.
It's
...More info on site
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USA, IL: Oak Park Brewing Company hoping to open around St. Patrick's Day
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When Jim Cozzens began attending the Oak Park Micro Brew Review nine years ago, he and his business partners, twin brothers Brandon and Ashley Wright, got an idea, Chicago Tribune reported on March 4.
"We were kind of amazed there was no brewery or brewpub here, so we thought it would be a good idea," Cozzens said. "It's been a long journey of us trying to get open, but we're [almost] there."
Various delays have pushed back the grand opening of Oak Park Brewing Company/Hamburger Mary's, but Cozzens knows years of hard work are almost ready to pay off.
The brewery, located at 155 S. Oak Park Ave. in Oak Park, IL, brewed its first batch of beer in mid-February. The kitchen is nearing completion, as are the seating areas and bar, which connect the brewpub and Hamburger Mary's. Cozzens said the establishment will also be family-friendly.
"When we started this project, we wanted to more emphasize the brewery side," Cozzens said. "In Chicago, the Hamburger Mary's is the main emphasis over the Andersonville Brewing [side]."
Located inside a former veteran's clinic, Oak Park Brewing Co. and Hamburger Mary's are separated by one wall, but joined by a large bar servicing both sides. Both establishments
...More info on site
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USA, MI: The Creston Brewery almost ready for official opening in Grand Rapids
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The Creston Brewery team is hard at work preparing for its official opening at 1504 Plainfield Ave in Grand Rapids. Co-Founders Cailin Kelly, Vincent Lambert and married couple Molly Bouwsma Schultz and Scott Schultz hope to create a space as vibrant as the Creston Neighborhood, The Rapidian reported on March 8.
Operating with a 20 BBL Brewing System with the ability to produce up to 1700 BBL annually, patrons can expect focus on the taproom, with possibility to distribute around Grand Rapids and beyond. Creativity is expected in each brew.
“Our beers will be rooted in a commitment to creativity and the importance of the brewing process. Expect aromatic, floral, spicy ales that will have you rediscover the subtle complexities of sessionable beers. As Scott's wife, I can say with authority the he is a meticulous brewer who cares greatly more about freshness than labels or styles. In other words, he always surprises and delights people with what he creates,” says Bouwsma Schultz.
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USA, MO & MI & KY: Boulevard Brewing starts distributing its beers in Michigan and Kentucky
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When Boulevard added new markets to their distribution territory in 2015, the Kansas City brewer suggested more were soon to come. Today the company fulfilled that promise, announcing the appointments of Imperial Beverage in Michigan and Beer House Distributors in Kentucky. In the coming weeks, consumers in those states will be able to enjoy Boulevard favorites such as Tank 7 Farmhouse Ale, The Calling IPA, Ginger Lemon Radler and Heavy Lifting IPA, TheFullPint.com reported on March 8.
These moves follow on the heels of recent launches in Rhode Island with Horizon Beer Distributors, and in upstate New York with AL George, Certo Brothers, DeCrescente, High Peaks Distributing, Lake Beverage, Norwich Beverage Corp., Oswego Beverage Co., Plattsburgh Distributing, T.J. Sheehan and Tri-Valley Beverage. In addition, with the appointments of Allstate Beverage Co. in Montgomery and Gulf Distributing Co. in Mobile, Boulevard beers are now available throughout the entire state of Alabama.
“With more fermentation capacity at the brewery, we have the ability to enter markets that have long been on our wish list,” said Bobby Dykstra, vice president of sales. “We’re pleased to bring our family of beers to craft lovers in these areas.”
As launch events in Michigan and Kentucky are finalized in
...More info on site
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USA, MI: Arcadia Ales & Smokehouse slated to open in Lansing in August
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Arcadia Ales & Smokehouse is slated to open as early as August on East Michigan Avenue in Lansing, Lansing State Journal reported on March 7.
Tim Suprise, owner of Battle Creek-based Arcadia Brewing Co., made the announcement on March 3 during the 22nd Annual Greater Lansing Entrepreneurial Awards, where he was the featured speaker.
“We want to positively contribute to the beer culture in Lansing,” said Suprise while drinking one of his Hop Rocket Imperial IPAs. “There’s been a lull over the course of the last 15 years in the beer culture here. It’s starting to pick up and I’m excited to see Ellison Brewery and Spirits and Lansing Brewing Co. become established faces in that culture here.”
The Lansing location was announced in November with few details. Kris Elliot of Urban Feast, which owns Troppo and Tavern & Tap, obtained the licensing to put the Arcadia name on the brewpub, which will be located on the site of the former PNC bank at 2101 E. Michigan Avenue.
The brewpub will be affiliated with Arcadia only by name and serve only Arcadia beers. It will also have between four and six Lansing-only beers brewed at the facility, Suprise said.
“I’m surprised we don’t have a
...More info on site
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USA, MI & CO: Perrin Brewing to start selling its beers in Colorado by early April
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Michigan’s Perrin Brewing plans to take the first step towards out-of-state distribution. Shipments of Perrin beer are expected to hit stores in Colorado late March/early April, Brewbound.com reported on March 7.
The growth for Perrin Brewing is expected to continue after a collaborative partnership with Oskar Blues Brewery, in Longmont, Colorado, took place in 2015. Part of this continued growth is from the addition of canned packaging, making Perrin beer available in most major retailers across the state of Michigan. Since the rollout of can distribution last fall, Perrin is prepared to offer canned beer outside of Michigan. Perrin will send draft and packaged options of its core beers, such as 98 Problems IPA, No Problems “A Session IPA”, Perrin Black Ale, and Grapefruit IPA, Perrin’s current seasonal beer which will be followed by Blackberry IPA on August 1.
“Through the partnership with Oskar Blues Brewery, the jump into the Colorado market seemed like a logical step towards out-of-state distribution for Perrin,” stated Keith Klopcic, President of Perrin Brewing. “The recent addition of canned packaging is right in tune with the Oskar Blues mindset in the craft industry and we are excited to open up to a whole new market”.
Founded in 2012,
...More info on site
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World: EU malt exports soar in July/December 2015
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According to IGC statistics of malt shipments, the EU exported a total of 1.710 mln tonnes in July/December 2015 versus 1.607 mln last campaign.
...More info on site
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UK: Barley and wheat usage by brewers, maltsters, distillers declines in July-January 2015/16
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Brewers, maltsters and distillers in the United Kingdom used 145 thousand tonnes of barley in January 2016, down 10.4% on January 2015, Defra reported
...More info on site
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China: Competition in China’s beer industry intensifies
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Competition is fierce in China’s beer industry as purveyors of alcoholic beverages battle for market share amid reverberations from acquisitions by the global giants,
...More info on site
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Turkey & CIS: Anadolu Efes manages to narrow losses in 2015
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Turkey’s Anadolu Efes said on March 8 its Q4 consolidated sales volume was up 1.0% to 16.3 mln hl (excl. Ukraine up 2.6%).
Q4 consolidated
...More info on site
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China: Consumers’ shift towards high-end beers may help brewers finally unlock frothier profits in China
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Small-scale brewers from Brooklyn to Beijing are tapping growing demand from cosmopolitan Chinese consumers for high-end beers, a trend which could also help global
...More info on site
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World: Malting barley markets ‘interesting and confused’ - analysts
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Malting barley markets are interesting and confused, H. M. Gauger GmbH said in their March report.
According to the analysts, overall supplies are plentiful,
...More info on site
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New Zealand: Lion posts 21% decline in full-year earnings as craft beers continue to take market share
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Lion - Beer, Spirits and Wine (NZ), New Zealand's largest brewer, posted a 21 percent decline in full-year earnings as the industry adjusts to
...More info on site
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Ukraine: Barley acreage expected to grow 5% this year
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The area planted to barley in Ukraine for the harvest 2016 may reach 3 mln ha, an increase of 5% compared to the previous
...More info on site
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Jamaica: Heineken officially takes over management of Red Stripe Beer
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Heineken has officially taken over management of Jamaica’s Red Stripe Beer, Carribean Journal reported on March 8.
The move will also mean the repatriation of Red Stripe production to Jamaica, with Desnoes and Geddes Ltd starting that process by the end of this year.
Heineken acquired a controlling stake in D&G last October.
“Heineken is the leader in upscale beer and cider because our products are rooted in traditions that translate to exceptional taste,” said Ronald den Elzen, President and CEO of HEINEKEN USA. “We love the Jamaican culture and want to reinvigorate the brand and the iconic stubby bottle by bringing the production of Red Stripe back to Jamaica where it came to life nearly 90 years ago.”
The company said the move was part of a larger plan to “catapult Red Stripe to a truly global brand within the HEINEKEN portfolio.”
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Vietnam: Carlsberg Vietnam launches new canning line at Hue brewery
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Danish Carlsberg Group opened a new canning line in Hue, Vietnam in January 2016, ScandAsia.com reported on March 9.
Carlsberg Vietnam’s (CBVN) Hue Brewery is located in Phu Bai Industry Zone, Huong Thuy Ward.
At the same event, the company also announces that its Huda Gold (a sub-premium brand of Huda) received the Silver Medal of 2015 World Beer Championships in the US for the second time, with a score of 88/100 and marked “Highly Recommended” by industry experts for its outstanding and consistent quality. Huda Gold was granted this award the first time in 2013.
The new canning line with a total investment of almost 6,4 mil EUR is imported from Germany has production capacity of 60,000 cans per hour, or more than 50,000 cartons of 24 cans per day, which is 25% faster than the current canning line which had been in operation since 2011.
2015 is another successful year of CBVN with total volume increased 6% versus last year in spite of a challenging environment this year.
Carlsberg is one of the first Danish multi-national companies to enter Vietnam and made its first investment in 1993. For the first 20 years, Carlsberg managed its Vietnamese operations through Carlsberg Indochina. In
...More info on site
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India: United Breweries may be pressured to force out Vijay Mallya from the board
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The board of India's largest beverage maker United Breweries, owned jointly by Heineken and the beleaguered Vijay Mallya, has become edgy over the growing possibility of local lenders turning off the lending facility as a pressure tactic to force the erstwhile liquor baron to repay his dues, Economic Times reported on March 9.
A top official close to the development said in case banks send them an official communication, the board would be under pressure to seek an exit for Mallya from the board.
Mallya, who sold roughly 35% to Heineken in late 2000, is chairman of the board with representatives from the Belgium beverage maker.
"Mallya has not defaulted on any United Breweries loans so there is no reason to ask him to go now," said a senior board official. "But SBI and Yes Bank are among our major lenders and if they take a decision on UB, we will have to move fast on that."
A covenant in the loan agreements with the companies to which the banks have funded says the borrowing company should not induct on its board a person whose name appears in the list of wilful defaulters and that in case such a person is found to
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Malawi: SABMiller’s Chibuku beer plant allowed to resume production
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The suspension order banning Chibuku production and distribution due to hygienic concerns has now been lifted, Malawi Bureau of Standards (MSB) announced on March 8.
MSB banned production and distribution of Chibuku shake shake opaque beer for Lilongwe plant on March 2 following a health inspection exercise that found the SABMiller unit was producing beer unfit for human consumption.
“The MBS wishes to inform the general public that it has uplifted the suspension order on production and distribution of Chibuku Shake Shake opaque beer for Lilongwe plant.
“The lifting of the suspension order follows verification audits conducted by the MBS inspectors on 4th and 5th March, 2016 which found that the company has addressed the hygienic conditions of their factory as required by Malawi Standard 21” reads a statement by Malawi Bureau of Standards.
The opaque beer is brewed in Malawi by Chibuku Products Limited (CPL), a subsidiary of SABMiller. CPL came under fire last year when it emerged that the company was discharging effluent into rivers, an act that was poisoning water for consumption.
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India: The Debt Recovery Tribunal bars Vijay Mallya from accessing exit payment from Diageo
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In a major setback for liquor baron Vijay Mallya, the Debt Recovery Tribunal (DRT) on March 7 barred him from accessing USD 75 million (Rs 515 crore) exit payment from Diageo till the loan default case with State Bank of India is settled, The Times of India reported.
DRT, allowing SBI plea, restrained Diageo from disbursing the money for now and set March 28 as the next date of hearing.
SBI had sought DRT's intervention in seeking the lenders' first right on the USD 75-million payout from Diageo to Mallya as part of deal last month.
Under the deal Mallya was to step down as chairman of India's top spirits company United Spirits Ltd in a settlement with its new owner, Britain's Diageo. Mallya was to settle down in London after the deal.
SBI had filed three other applications, including one seeking Mallya's arrest and impounding of his passport, it approached DRT seeking action against him for defaulting on loans.
DRT, in its order restraining Diageo from disbursing USD 75 billion, said the amount has been attached pending disposal of original application.
It directed Mallya and the companies concerned to disclose the details of the terminal agreement.
The order came
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Myanmar: Carlsberg may face lawsuit for not removing the words ‘tu po’ from its Tuborg beer
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The family of Myanmar composer Myoma Nyein threatened a lawsuit against Carlsberg Myanmar for not removing the words ‘tu po’ from its Tuborg beer within a “reasonable time”, The Nation reported on March 6.
Relatives of the composer demanded the phrase be removed within a week at the press conference on January 15 and apologies in newspapers, among others.
They called for three days of apologies in newspapers, a pledge not to use the phrase again on its beer bottles or cans and to give a date by which the phrase would have disappeared from shop shelves.
Zaw Myo Oo, a grandson of Myoma Nyein and son of artist Paw Oo Thet, said at the press conference last week: "The company did not apologise in newspapers. It did not withdraw the products which had been distributed already or say when the phrase 'tu po' would be totally removed. It just said it would be removed but took no further action for us. We are going to make a legal claim. We want the world to know that a company like Carlsberg uses the art of Myanmar, which has a weak legal system, without accountability."
According to Shun Myaing, another relative, Myanmar Carlsberg executives,
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