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E-Malt.com Newsletter 33a
August 15 - August 17, 2016
Quote of the Week
Good things happen to those who hustle.
Chuck Noll
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Currency Rates
Base Currency: US Dollar
on August 17, 2016 |
Base Currency: Canadian Dollar
on August 17, 2016 |
| |
1 USD = 0.8897 EUR
1 USD = 0.7720 GBP
1 USD = 1.2881 CAD
1 USD = 1.2992 AUD
1 USD = 100.4600 JPY
1 USD = 3.1828 BRL
1 USD = 63.9514 RUB
1 USD = 6.6280 CNY
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1 CAD = 0.7762 USD
1 CAD = 0.5993 GBP
1 CAD = 0.6906 EUR
1 CAD = 1.0085 AUD
1 CAD = 77.9800 JPY
1 CAD = 2.4705 BRL
1 CAD = 49.5962 RUB
1 CAD = 5.1447 CNY
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Currency Rates Chart
USA: European malt remains extremely popular among US craft brewers
...Click here
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USA, NC: Former owner of Terrapin Beer Company purchases a new brewery in Asheville
...Click here
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USA, OH: Royal Docks Brewing Co. to build new production brewery in Green
...Click here
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USA, VA: Green Flash Brewing Co. to open its doors to public on November 13
...Click here
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Canada, NB: Foghorn Brewing preparing to launch in Rothesay
...Click here
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USA, VA: Bedlam Brewing preparing to open in the coming months in Staunton
...Click here
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USA, ID: Barley crop looking good in Idaho this year
...Click here
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USA, VA: The Oozlefinch Craft Brewery set to open September 3
...Click here
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Canada, BC: Broke ‘n Rode Brewing looking for investor or buyer
...Click here
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USA, VA: Red Dragon Brewery launching in Fredericksburg on August 15
...Click here
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Canada, NB: Beckwith Road Brewing about to release its first beer in Moncton
...Click here
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Canada, BC: Faculty Brewing officially opened in Vancouver
...Click here
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Canada, ON: Farmers starting to grow hops in larger volumes in Canada again
...Click here
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World: July/May 2015/16 malt shipments by major exporters show small increase versus previous campaign
...Click here
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World: Carlsberg reports rise in first-half net profit on unusual gains
...Click here
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India: United Breweries Ltd reports 20.4% rise in quarterly net profit
...Click here
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World: Barley trade forecast increased to 28.385 mln tonnes
...Click here
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EU: Barley campaign 2015/16 ends with good consumption and export figures
...Click here
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EU: Soft wheat and barley output estimates cut again
...Click here
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Brazil: Brasil Kirin negotiating sale of two breweries to Heineken - report
...Click here
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Vietnam: Sabeco contemplating listin on the Ho Chi Minh City Stock Exchange
...Click here
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Russia & Ukraine & Kazakhstan: Black Sea countries expected to increase their share of world barley exports
...Click here
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Russia: Barley export volume declines in June to the lowest monthly level over the last few years
...Click here
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Sri Lanka: Ceylon Beverage Holdings reports Rs501 mln loss in June quarter because of floods
...Click here
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Italy: Retail beer sales up 6.9% in value in January-May this year
...Click here
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World: SABMiller boss may see his share awards decline if SAB’s share price continues to compare unfavourably with rivals
...Click here
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South Africa: Food and Allied Workers Union accepts R1.5 bln deal from AB InBev, SABMiller
...Click here
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India: United Breweries withholds RS1.64 crore payment to Vijay Mallya
...Click here
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Australia: Heineken announces the launch of a mystery new product later in August
...Click here
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Graph of the Week
Table of the Week
World Hop Area and Production 2013 - 2015
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
HOPS DO NOT NECESSARILY
NEED TO TOUCH BEER FOR
DRY HOPPING PURPOSES
ABSTRACT
A German research team that came up with the idea of
extracting hop aroma into beer by applying a combined
desorption/absorption process. The process-dependent
mass transfer was predicted using two different
approaches: a thermodynamic approach, and response
surface modelling. The methods offer the following
advantages: no beer losses, no clarification steps
needed, potential reuse of hops for bittering. Using
response surface methodology was clearly superior
as compared to calculating the mass transfer using
thermodynamic approximations.
Klie, R.: Feasibility and Optimization of a Novel Desorption/ Absorption Process for
Transferring Hop Volatiles into Beer, poster presentation at the Trends in Brewing Conference,
April 2016, Ghent.
Read more
Source: Barth Innovations
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These Days in Business History
15 August
1769 - Napoleon Bonaparte was born, resident of Elba (emperor 1804-13, 1814-15)
1911 - Procter & Gamble unveils its Crisco shortening
1914 - Panama Canal opens (under cost)
16 August
1870 - Fred Goldsmith demonstrates curve ball isn't an optical illusion
1930 - The first color sound cartoon, called Fiddlesticks, is made by Ub Iwerks
1955 - Fiat Motors orders 1st private atomic reactor
1991 - Belgium census is 10,000,963 inhabitants
17 August
1802 - In one of history's greatest acts of inventive daring, Robert Fulton launches his new steamboat from the north shore of Manhattan
1998 - The Russian government devalues the ruble and declares a moratorium on paying its foreign debt, a de facto default that sends the global bond markets crashing, triggers the collapse of the giant U.S. hedge fund Long-Term Capital Management and sends shockwaves through the world's financial system
Agenda
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: European malt remains extremely popular among US craft brewers
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When Ron Barchet set up his Pennsylvania craft brewery after quitting his job as a financial analyst, he turned to Europe for the malted barley needed to make a distinctive-tasting beer.
Two decades on, and Barchet’s Victory Brewing Co. has been joined by a brigade of small American brewers, now multiplying at a rate of about 20 percent a year, in a $22 billion industry that’s helping drive record exports of European malt to the U.S., Bloomberg reported on August 16.
“We’ve been using European malt from day one in our brewery, and that was one of the things that we did think would differentiate us,” Barchet said in an interview. “The barley that they grow in Germany and in Europe in general is more suitable for all-malt beers, which most craft beers are.”
Craft brewers tend to use more than three times as much malt as their industrial-scale peers, which typically brew with a mixture of malt and cheaper grains such as corn and rice, known as adjuncts.
While craft volumes made up 7.8 percent of the U.S. beer market in 2014, they accounted for a quarter of malt consumed, data compiled by the beer makers’ lobby show. Meanwhile, numbers of producers
...More info on site
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USA, NC: Former owner of Terrapin Beer Company purchases a new brewery in Asheville
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John Cochran, who last month sold Terrapin Beer Company to MillerCoors, is diving headfirst back into the beer business with a new craft brewery venture in Asheville, North Carolina, Brewbound.com reported on August 16.
Using proceeds from the sale of Terrapin, Cochran said he has purchased the assets of Altamont Brewing and will rebrand the company as UpCountry Brewing.
Recall that at the time of Terrapin’s sale to Tenth and Blake, MillerCoors’ craft and import division, it was announced that Cochran — who co-founded the Athens, Georgia-based brewery with Brian “Spike” Buckowski in 2002 – would leave the company to pursue a new opportunity.
Specific financial terms of the most recent transaction were not disclosed, but Cochran’s purchase includes Altamont Brewing’s 7-barrel brewhouse and an adjacent restaurant formerly known as Nona Mia, he told Brewbound.
“I am passionate about craft beer and it is very important to me to keep my hands dirty and stay involved,” he said. “There is something about a smaller venture that is really exciting.”
Cochran will retain Altamont Brewing’s staff — including brewer Jordan Veale and general manager James Mayfield — and plans for the new brand include producing “beers that are sessionable, thirst-quenching and easy drinking,” according to a
...More info on site
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USA, OH: Royal Docks Brewing Co. to build new production brewery in Green
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Royal Docks Brewing Co. is ready to grow.
The Jackson Township brewpub, which celebrates its one-year anniversary next month, is eyeing a grassy field in Green to build a new production brewery that will include a tasting room and canning line, Akron Beacon Journal reported on August 16.
Royal Docks hopes to construct the facility across from Diebold Inc., at the corner of Mount Pleasant Road and Mayfair Road/Pittsburg Avenue Northwest.
Owner John Bikis and brewmaster Dave Sutula were in Europe last week for a trip that included buying a 20-barrel brewing system from Simatec in Italy. They hope to have the new brewery operational by next summer.
“It’s exciting to break out of the mold that we’ve grown into,” Sutula said in a phone interview from Romania, where they were doing a collaboration brew with Ground Zero Beer.
The Royal Docks brewpub, 7162 Fulton Drive, Canton isn’t closing. They plan to keep operating that site, along with the new brewery.
Asked why Royal Docks needs a production brewery, Sutula replied: “Ego.”
The current eight-barrel system isn’t capable of feeding the brewpub and keeping up with the distribution demands from bars and restaurants.
“We’ve always needed to produce more,” Sutula said. “We were undersized 30 minutes
...More info on site
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USA, VA: Green Flash Brewing Co. to open its doors to public on November 13
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City officials say Green Flash Brewing Co. will open its East Coast headquarters in Virginia Beach Nov. 13, Virginian-Pilot reported on August 16.
The announcement came three years after the San Diego-based company first announced it would open a brewery in Hampton Roads. Green Flash ranks 41st among the largest craft brewers nationwide.
The 58,000-square-foot hub built at the corner of General Booth Boulevard and Corporate Landing Parkway by Virginia Beach-developer The Miller Group will have a tasting room with 30 beers on tap, a beer garden, store and private-event room.
The brewer expects to hire 40 people.
The Virginia Beach location will eventually be able to brew up to 100,000 barrels of beer annually, or about 24.8 million pints.
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Canada, NB: Foghorn Brewing preparing to launch in Rothesay
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According to Maritime Beer Report, a new brewery featuring a veteran of the local craft brewing scene will be opening soon in Rothesay, New Brunswick.
Foghorn Brewing is being launched by Steve Russell and Andrew “Esty” Estabrooks, the latter the former brewmaster at Picaroons who is spending the summer brewing at Les Brasseurs du Petit-Sault.
Construction is currently underway at 47 Clark Road, with a 7 barrel brewhouse set to be installed soon, and a target opening date of sometime this autumn.
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USA, VA: Bedlam Brewing preparing to open in the coming months in Staunton
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A new brewery called Bedlam Brewing is set to open in the coming months in Staunton, Virginia, Staunton News Leader reported on August 14.
The addition makes a total of four breweries in Staunton, creating another stop along the new Shenandoah Beerwerks Trail.
Mike McMackin took over the former Ma and Pa's pizza place's lease in June and started construction on the bar a week and a half ago.
The New Hope resident said he is excited to see things happening in the space. Currently, much of the building has been stripped down to its bare bones. McMackin said it should be up to eight weeks before the new brewery starts taking shape.
McMackin has been home brewing for more than 20 years and has been brewing up small batches more frequently in the past few years. The new brewery will showcase multiple ales and lagers with a two barrel system and up to 12 taps, he said. When the brewery opens, McMackin hopes to have at least six beers on tap and one bottled beer. McMackin said he plans on bottling some beers on a small batch scale.
The new business owner recently retired as a teacher for Augusta County Public Schools after his
...More info on site
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USA, ID: Barley crop looking good in Idaho this year
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Barley is looking good in Idaho this year, and growers are looking forward to a favorable harvest and one vastly improved from 2014, as many growers still haven’t forgotten the disaster August rains brought on their crops, the Post Register reported on August 12.
This year is considerably better, provided it doesn’t rain in the next few weeks.
Kelly Olsen, administrator for the Idaho Barley Commission in Boise, agreed saying that growers are hopeful for a dry harvest period to get their crop in.
“The crop is looking favorable, looking good throughout the region,” she said. “The extended forecast is good so we are hoping for a favorable harvest.”
She said that fields look like they have a good yield potential but until the combines get rolling they won’t know for sure what type of a crop is coming in.
“We are looking for as good as a crop as we got last year, but we need more warm, dry days to get a really solid crop,” she said. “It’s hard to dial in on what makes a perfect crop, but we know we need more warm days to get the harvest in.”
Area farmers are at differing stages of their harvest with results all across
...More info on site
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USA, VA: The Oozlefinch Craft Brewery set to open September 3
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The wait is soon over. The Oozlefinch Craft Brewery at Fort Monroe is brewing beer and plans to open Sept. 3, the Daily Press reported.
"We're excited," said owner-operator Russel Tinsley. "It's kind of surreal right now."
The craft brewery plans to have a half-dozen beers on tap in its tasting room for its grand opening, he said. Oozlefinch began brewing at the end of July using a 15-barrel system at 81 Patch Road.
Oozlefinch is leasing 4,700 square feet now, and Tinsley would like to eventually expand into the additional 12,000 square feet of space in Building 12, Tinsley said.
Oozlefinch will sell 32-ounce sealed cans with its crowler machine in addition to growlers, or resealable beer jugs. The brewery plans to distribute kegs through Hampton-based M. Price Distributing to restaurants and growler stations, starting with two beers at first — a hefeweizen called Lady in White and a pineapple grapefruit IPA called Sergeant Patches.
The names of Oozlefinch's brews allude to Fort Monroe stories. In fact, the brewery's name hails from the mascot of the original Fort Monroe officers' club and of the Coastal Artillery Corps.
The story goes that a captain in the early 1900s, after imbibing, supposedly saw a large-eyed, featherless backward-flying
...More info on site
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USA, FL: Florida farmers eyeing hops growing
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With Florida’s iconic citrus industry reeling due to a so-far incurable bacterial disease, some local farmers are eyeing a new niche crop that can tap into the country’s burgeoning beer-brewing business: hops, Toledo Blade reported on August 14.
Traditionally, Florida was considered too hot and humid to grow hops — most varieties are grown in Germany and other European countries with cooler climates, while 95 percent of hops grown in the U.S. come from Washington and other Pacific Northwest states. An explosion of craft breweries in the U.S. has pushed demand sky high, and as a result, shortages of popular hop varieties are common for smaller breweries, which compete with much larger ones for the same supply.
Three years ago, home-brewing horticulturist Brian Pearson of the University of Florida decided he wanted fresh hops and began doing his own research on what he could grow. He started with a few plants in a small wooden shed, and that has since grown into hundreds of plants and a hope that Florida may have found a new cash crop.
“The amount of phone calls from brewers wanting them, the amount of phone calls from growers wanting to grow them, has been incredibly overwhelming,” Pearson said.
The
...More info on site
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Canada, BC: Broke ‘n Rode Brewing looking for investor or buyer
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A brewery that opened in the South Cariboo region of British Columbia earlier this year has announced that it is looking for an investor or buyer in order to make it feasible to stay in operation, Canadian Beer News reported on August 11.
Broke ‘n Rode Brewing co-owner Kevin Grinyer explains the situation as follows:
“Essentially we need to expand our operation to acquire a broader market. Despite our previous and current research showing the immense verbal support of our community we do not get enough locals in who actually purchase product. We are searching for a partner since our capital has run out, and we’re even considering the sale of our established brewery. The idea is if ourselves or a new owner can increase production with larger equipment and more staff, we would be able to promote our beer throughout BC.”
The brewery has set up a special website with details on the opportunity, and welcomes all interested parties to contact them for more information.
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USA, VA: Red Dragon Brewery launching in Fredericksburg on August 15
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Fredericksburg native's Thomas Evans and Danial Baker are opening Red Dragon Brewery at 1419 Princess Anne St. in Fredericksburg, Fredericksburg Today reported on August 13.
Monday, Aug. 15, 2016, is their opening day, and Saturday, Aug. 20, is their grand opening.
There will be 20 tap lines of their own craft beer. They'll also have growlers, bottles, and crowlers - 32 oz. cans filled from the tap.
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Canada, NB: Beckwith Road Brewing about to release its first beer in Moncton
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A new brewery with a name and philosophy inspired by the family history of the owners is about to release its first beer in Moncton, Canadian Beer News reported on August 11.
Beckwith Road Brewing has been founded by cousins Mark and Mitch Symes, as is named after a farm north of Moncton that has been in their family for five generations, and which will be used to grow some of the ingredients used in the brewery’s beers.
Beckwith Road Boston George beer will be available in the next several days at bars in the Moncton area.
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Canada, BC: Faculty Brewing officially opened in Vancouver
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A new brewery with a unique college-inspired naming convention for its beers is now open in Vancouver’s Brewery Creek neighbourhood, Canadian Beer News reported on August 3.
Faculty Brewing was officially launched on August 2 by Mauricio Lozano and Alicia Medina in a 1,300-square-foot space at 1830 Ontario Street.
Focusing on quality over quantity, the tasting room and growler bar features six rotating taps, with the beers named using numbers similar to those used for college courses to reflect their complexity, ranging from a 100-series for entry level beers to a 700-series for the most complex and challenging.
The initial line-up includes 107 Blonde Ale, 241 Mint Hefeweizen, 305 Saison, 408 Chinook Pale Ale, 419 Centennial Pale Ale, and 710 Oaked Stout, all available by the glass and in growlers to go.
Faculty Brewing is open from 2:00 PM to 11:00 PM Monday to Friday, and 11:00 AM to 11:00 PM on weekends.
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Canada, ON: Farmers starting to grow hops in larger volumes in Canada again
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After working for 25 years on Toronto's Bay Street, Brian Pearson made a truly drastic career change. He quit his job in finance to become a farmer, CBC.ca reported on August 14.
"At the age of 50, I looked at life and realized that life is too short, so what's the next thing for me to do?" said Pearson.
He bought a piece of land across the road from where he grew up north of Barrie, Ont., did a tremendous amount of research and turned his love for craft beer into a full-time job growing its essential ingredient — hops.
"I took a chance and planted some last year and they flourished," said Pearson, whose operation is called Cahiague Farms.
According to the Ontario Hop Growers' Association, hops haven't been grown commercially in Canada in great volumes since about the 1950s. As a result, Canadian craft brewers have been forced to import almost 99 per cent of their hops, primarily from the U.S. northwest and Europe.
But with more craft breweries popping up in this country and the push for local and fresh ingredients, more Canadians are taking a shot at growing hops.
The Ontario Ministry of Agriculture, Food and Rural Affairs estimates there are
...More info on site
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World: July/May 2015/16 malt shipments by major exporters show small increase versus previous campaign
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Cumulative malt shipments of the major exporters in July/May 2015/16 were 5.543 mln tonnes (in grain equivalent), 0.7% more than a year ago, IGC
...More info on site
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World: Carlsberg reports rise in first-half net profit on unusual gains
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Denmark’s Carlsberg A/S turned in a rise in first-half net profit on unusual gains, but beer volumes and revenue declined as Eastern Europe and
...More info on site
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India: United Breweries Ltd reports 20.4% rise in quarterly net profit
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India’s largest beer maker United Breweries Ltd (UBL) on August 13 reported a 20.40 per cent rise in standalone net profit to Rs 147.06
...More info on site
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World: Barley trade forecast increased to 28.385 mln tonnes
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Australian barley export forecast for 2016/17 is boosted 200,000 tonnes to 6.2 million with a larger projected crop, USDA said in their August report.
EU
...More info on site
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EU: Barley campaign 2015/16 ends with good consumption and export figures
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The barley campaign 2015/16 ended with good consumption and export figures, but extremely bad financial results for farmers and many traders, H. M. Gauger
...More info on site
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EU: Soft wheat and barley output estimates cut again
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EU soft wheat and barley output estimates were cut again by Strategie Grains last week due to the impact of the adverse weather in
...More info on site
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Brazil: Brasil Kirin negotiating sale of two breweries to Heineken - report
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Brasil Kirin, the local subsidiary of Japan’s Kirin Holdings, is negotiating the sale of two of its breweries in Brazil to Heineken aiming at
...More info on site
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Vietnam: Sabeco contemplating listin on the Ho Chi Minh City Stock Exchange
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Vietnam’s largest brewer Saigon Beer, Alcohol and Beverage Corp (Sabeco) is contemplating a listing on the Ho Chi Minh City Stock Exchange, where the country’s largest blue chips are currently listed, the local industry ministry said, in a document.
“The ministry has reported to the government about its privatization plan for Sabeco four times since 2012, and the overall goal is to list the company’s stocks as the state capital is divested,” the Ministry of Industry and Trade said in a response to the Vietnam Association of Financial Investors, which favours state exit from commercial businesses.
“The ministry acknowledges that the delay in listing has disappointed investors. Therefore, it will ask the government for consideration of listing on the Ho Chi Minh City Stock Exchange,” it added.
VAFI had earlier urged the government to accelerate the divestment in Vietnam’s two biggest beer firms, Sabeco and its Hanoi-based peer Habeco. Accordingly, the association expects the industry ministry, which represents the state holdings in these two enterprises, to act swiftly in selling significant stakes from almost 90 per cent (in Sabeco) and 82 per cent (in Habeco), to minority holdings.
The local government had indicated that it would bring down state ownership
...More info on site
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Russia & Ukraine & Kazakhstan: Black Sea countries expected to increase their share of world barley exports
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Every year Black Sea countries increase their presence on the key world grain markets. In 2016/17 such tendency will concern not only wheat and
...More info on site
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Russia: Barley export volume declines in June to the lowest monthly level over the last few years
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In June, Russia exported the smallest monthly volume of barley over the last few years – 12 thousand tonnes, UkrAgroConsult reported on August 17.
In 2015/16, Russian barley exports dropped by 20% to 4.244 mln tonnes compared to the record high result of 2014/15.
Exports decreased in all the key destinations except for Tunisia and Kuwait, where export volumes rose by 73% and 36%, respectively. Also increase was observed in Egypt and Lebanon, it is reported.
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Sri Lanka: Ceylon Beverage Holdings reports Rs501 mln loss in June quarter because of floods
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Sri Lanka's Ceylon Beverage Holdings, brewer for Lion and Carlsberg in Sri Lanka, lost Rs501 million in the June quarter as the floods disrupted production, interim accounts filed with the Colombo Stock Exchange showed.
Revenues fell 36 percent to Rs5.93 billion in the June 2016 quarter from a year earlier.
Sri Lanka experienced severe flooding in a low-lying area near the capital Colombo where the factory is located.
Production is expected to resume later this year.
Lion Brewery said its brands will be made in breweries owned by its partner Carlsberg group.
The government has reduced duty on the firm's imports to allow it to import and sell beer.
Sri Lanka's The Sunday Times newspaper said customs duty for beer with alcohol of less than 5 percent has been cut to Rs129 per litre from Rs500 and for beer with over 5 percent alcohol to Rs246 from Rs500.
The firm will also pay taxes such as port and airport levy.
The import levies paid by the firm is expected to be broadly the similar to the excise duties it would have paid on domestically produced beer.
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Italy: Retail beer sales up 6.9% in value in January-May this year
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Italian beer sales, in the retail channel, have grown by 6.9% in value, and by 4% in volume, during the first five months of 2016, compared to the same period in 2015, ESM reported on August 17.
According to data published by IRI, total turnover amounted to €1.2 billion, with “speciality” beers, although still representing a niche market, boosting the growth.
Light pale ales (representing 95% of sales) grew by 4.3%; flavoured beers were up by 36%, red and pale ales (+6% alcohol) grew by 14%, while weiss beer increased by 8%.
Italy is third in Europe for the number of microbreweries, producing 445,000 hectolitres in 2014, equivalent to 3.3% of the total production.
The three major players (Heineken, Peroni (SABMiller), and AB InBev), together account for 66% of the overall beer market in Italy, according to IRI.
For its part, the Italian Association of Beer and Malt Producers (Assobirra) claims that Heineken has a 28% in volume, followed by SABMiller (18.6%), AB InBev (8.7%), and Carlsberg (6.1%).
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World: SABMiller boss may see his share awards decline if SAB’s share price continues to compare unfavourably with rivals
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The Brexit vote could hit the blockbuster windfall that SABMiller’s boss will enjoy from the brewer’s £79 bln sale to rival Anheuser-Busch InBev, The Telegraph reported on August 13.
Alan Clark, a 25-year veteran of SAB and chief executive since 2013, has some long-term share awards that are valued in part by comparing the brewer’s share price performance against a group of rival consumer goods companies, including London-listed spirits giant Diageo and Unilever.
While shares in Diageo and Unilever have surged following the vote to leave the EU, SABMiller’s gains have been capped by AB InBev’s takeover offer.
If SAB’s share price continues to compare unfavourably with its rivals when the AB InBev deal completes, it will diminish the value of some of Mr Clark’s share awards, weighing on his overall windfall, which was expected to be £57 mln based on the pound’s value prior to the referendum.
Diageo shares have leapt 19pc since the Brexit vote as investors bet that the owner of Smirnoff vodka and Captain Morgan rum will benefit from the pound’s slump after the referendum, because it generates the majority of its revenues overseas in currencies other than sterling.
Unilever stock has also climbed 13.9pc since the June vote on hopes
...More info on site
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South Africa: Food and Allied Workers Union accepts R1.5 bln deal from AB InBev, SABMiller
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SABMiller and Anheuser-Busch InBev passed another hurdle on August 12 as after months of negotiations, the Food and Allied Workers Union (Fawu) accepted a R1.5 billion deal from the merging parties on the South African Breweries (SAB) Zenzele employee share programme, IOL reported.
Fawu general secretary Katishi Masemola said on August 14 that a R1.5 bln payment would be made not only to the 9 146 employee portion of the beneficiary base as originally envisioned, but was now extended to other Zenzele beneficiaries, totalling 41 000 registered and qualifying liquor store and tavern owners.
This was now an advanced payment - and not an ex-gratia, once-off payment - on an interest-free basis at about R32 per Zenzele scheme participation right - effectively an SAB or SABMiller’s South African operations’ share - and deductible at the end of the scheme.
For a worker who has 1 000 shares they will now receive R32 000.
Masemola said on August 14 that the outcome was not the “expected first prize, but the best outcome in the circumstances”.
He said when consulting with Fawu workers, the members had opted not to strike and had wanted the advance payment.
Fawu has taken an active interest in the mooted multibillion-dollar merger between
...More info on site
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India: United Breweries withholds RS1.64 crore payment to Vijay Mallya
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United Breweries Ltd has withheld Rs 1.64 crore payment to its Chairman Vijay Mallya after tax authorities barred any payments made to him in view of ongoing tax case against his defunct Kingfisher Airlines, NDTV reported on August 13.
Without naming Mr Mallya, the company said it has received an order dated June 28, 2016 from the Commissioner of Income Tax (TDS), prohibiting the company from making any payment in the nature of salary, remuneration, allowances etc to a director.
In a stock exchange filing, United Breweries Ltd (UBL) said: "The company has accordingly withheld payment Rs 1.64 crore relating to the director commission and sitting fess payable to the aforesaid director."
UBL further said the company had received an order dated March 11, 2016 from the Deputy Commissioner of Income Tax (International Taxation) Bangalore, asking it "to create a charge in favour of the Central Government on any amount due or likely to be due to a director of the company, to the extent of Rs 67,980 lakh relating to tax demands on Kingfisher Airlines Ltd."
When contacted, a company spokesperson declined to comment.
Earlier on September 30, 2015, UBL said, it had received an order from the Debt Recovery Tribunal Karnataka which directed
...More info on site
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Australia: Heineken announces the launch of a mystery new product later in August
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Heineken has announced the launch of a mystery new product in Australia which promises to change the way Australians enjoy their afternoon beer, B&T reported on August 17.
Ready to refresh the nation from the end of August, the new offering will provide Australians with a beer that enables drinkers to ‘have it all’ through its unique key attributes.
More than just another beer, Heineken will debut the new product in unforgettable style, hosting a major event that will showcase what ‘Having It All’ means through a unique experience. Guests will have the opportunity to enjoy an iconic Australian summer afternoon in the middle of winter with guests transported to alternate summer oasis. The action will kick off at 3pm and guests will not want to miss a minute.
Taking place on the rooftop of a new five-star Sydney CBD hotel, Heineken will open up an exclusive indoor-outdoor beach club, which will be fully enclosed for the occasion, to give consumers the chance to get out of the cold and step into the heat of summer.
Complete with heated pool, music, entertainment and great summer food along with a few surprises throughout, summer will arrive early for guests to bring cheer to the last
...More info on site
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