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E-Malt.com Newsletter 40b
October 03 - October 06, 2019
Quote of the Week
Brewers enjoy working to make beer as much as drinking beer instead of working.
Harold Rudolph
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Currency Rates
Base Currency: US Dollar
on October 04, 2019 |
Base Currency: Canadian Dollar
on October 04, 2019 |
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1 USD = 0.9119 EUR
1 USD = 0.8110 GBP
1 USD = 1.3328 CAD
1 USD = 1.4861 AUD
1 USD = 106.9900 JPY
1 USD = 4.1090 BRL
1 USD = 65.1316 RUB
1 USD = 7.1474 CNY
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1 CAD = 0.7502 USD
1 CAD = 0.6084 GBP
1 CAD = 0.6841 EUR
1 CAD = 1.1149 AUD
1 CAD = 80.2700 JPY
1 CAD = 3.0826 BRL
1 CAD = 48.8621 RUB
1 CAD = 5.3620 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: Constellation Brands enjoys rise in quarterly beer sales and takes hit from investment in Canadian pot company
...Click here
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EU & USA: US to introduce 25% tariffs on single malt Scotch and Irish malt whiskey
...Click here
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USA, MI: Detroit’s Eastern Market Brewing acquiring Axle Brewing Company
...Click here
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USA, IA: Kinship Brewing Company hoping to open in Waukee soon
...Click here
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Canada, ON: Broadhead Brewing moving to larger facility
...Click here
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USA, CA: Barley Forge Brewing Co. to close its doors by end of October
...Click here
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USA, MI: Schmuck's Brewing Co. could become Howell Township’s newest craft brewery
...Click here
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USA, OH: Black Cloister Brewing Co. announces permanent closure
...Click here
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Thailand: ThaiBev’s full-year net profit expected to rise 16% YoY
...Click here
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Asia: ThaiBev to invest in renovating 25-year-old breweries and increasing sales
...Click here
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UK: Molson Coors Brewing Company UK’s pre-tax profit decline in 2018
...Click here
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Hong Kong: AB InBev raises $750 mln more in Hong Kong IPO
...Click here
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India: AB InBev to launch chain of microbreweries in India
...Click here
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Vietnam: Sabeco on a journey of transformation a year after ownership change
...Click here
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Graph of the Week
Table of the Week
World Barley Malt Exports by Largest Exporters 2016-2018
Prices Evolution
Barley Prices
Theoretical Malt Prices
These Days in Business History
03 October
1906 - SOS adopted as warning signal by 1st conference on wireless telegraphy
1922 - 1st facsimile photo send over city telephone lines, Washington, DC
1952 - 1st video recording on magnetic tape, Los Angeles, California
04 October
1910 - 1st public elevator (London's Earl's Court Metro Station)
1957 - USSR launches Sputnik I, 1st artificial Earth satellite
1958 - USSR Luna 3 sent back 1st photos of Moon's far side
1976 - Official launch of the InterCity 125 high speed train
05 October
1887 - Rene Cassin is born, pacifist, Nobel Peace Prize 1968
1902 - Ray Kroc born in Illinois, founder of McDonalds and owner of the San Diego Padres
1991 - The first official version of the Linux kernel, version 0.02, is released
1993 - Daimler-Benz becomes the first German company to be listed on the New York Stock Exchange
06 October
1781 - Benjamin Hanks patents self-winding clock
1889 - Thomas Edison shows his 1st motion picture
Agenda
October 2019:
03 - 05: The Great American Beer Festival 2019 (Denver, USA)
03 - 05: Stockholm Beer & Whisky Festival 2019 (Stockholm, Sweden)
24 - 26: Warsaw Beer Festival 2019 (Warsaw, Poland)
29 - 13 November: World Beer Cup 2020 (USA)
November 2019:
12 - 14: Brau Beviale 2019 (Nuremberg, Germany)
27 - 29: Drink Japan 2019 (Makuhari Messe, Japan)
December 2019:
05 - 07: Drink Technology India 2019 (New Delhi, India)
January 2020:
31 - 01 February: Braukunst Live! 2020 (Munich, Germany)
February 2020:
04 - 08: Great British Beer Festival Winter 2020 (Norwich, UK)
07 - 10: HoReCa 2020 (Athens, Greece)
07 - 09: Finest Spirits 2020 (Munich, Germany)
15 - 18: Beer Attraction 2020 (Rimini, Italy)
24 - 26: Beviale Moscow 2020 (Moscow, Russia)
March 2020:
09 - 11: 107th Brewing and Engineering Congress 2020 (Rust, Germany)
11 - 12: BeerX 2020 (Liverpool, UK)
April 2020:
19 - 22: Craft Brewers Conference & BrewExpo America 2020 (San Antonio, Texas, USA)
25 - 26: Zythos Beer Festival 2020 (Leuven, Belgium)
May 2020:
05 - 07: International Beer Strategies Conference 2020 (Munich, Germany)
13 - 15: Craft Beer China 2020 (Shanghai, China)
19 - 21: Beer 2020 (Sochi, Russia)
21 - 24: Mondial de la Biere 2020 (Montreal, Canada)
June 2020:
03 - 04: The Brewers of Europe Forum 2020 (Antwerp, Belgium)
August 2020:
07 - 08: Beervana 2020 (Wellington, New Zealand)
News Articles
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USA: Constellation Brands enjoys rise in quarterly beer sales and takes hit from investment in Canadian pot company
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Constellation Brands Inc racked up millions of dollars in losses from its investment in Canadian pot company Canopy Growth, pushing the maker of Corona and Modelo beers into a quarterly loss and sending its shares down as much as 8%, Reuters reported on October 3.
The brewer has invested over $4 billion in Canopy, making it one of the first major alcohol producers looking to cash in on the proposed legalization of recreational weed in several countries.
However, the pot producer has been reporting losses as it invests in equipment, research and marketing, warning in August that it would need another three to five years to turn profitable.
“Clearly, the Canopy investment has not turned out how they would have liked it to so far,” said William O’ Neil analyst Andrew Kessner.
“They knew the investment was going to be a drag for a while... but I think what has changed since then is that it is kind of clear now that Canopy’s runway to profitability... is much longer than Constellation anticipated.”
Net loss attributable to Constellation was $525.2 million in the second quarter ended Aug. 31, compared with a profit of $1.15 billion a year earlier, due to $484.4 million in losses from the
...More info on site
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EU & USA: US to introduce 25% tariffs on single malt Scotch and Irish malt whiskey
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A number of key European Union drinks exports are set to face new tariffs in the U.S. market owing to a long-running dispute over aircraft subsidies. On October 2, the World Trade Organization ruled that E.U. subsidies to Airbus were illegal and allowed the U.S. to impose retaliatory tariffs on $7.5 billion worth of E.U. products, the Shanken News Daily reported.
The U.S. immediately made good on its threat to target several key import categories with tariffs. Beginning October 18, 25% levies will take effect on wine from France, Spain, Germany, and the U.K.; single malt Scotch whisky; Irish malt whiskey from Northern Ireland; and liqueurs from Germany, Ireland, Italy, Spain, and the U.K.
Cognac, Champagne, Italian wine, blended Scotch whisky, most Irish whiskies, and French liqueurs appear to have escaped unscathed for now, leading analysts like Jefferies to declare the measure “a light touch.” But while the levies may not be as severe or widespread as feared, U.S. industry groups are adamant that they will damage the drinks market—resulting in the loss of an estimated 13,000 U.S. jobs—and could lead the E.U. to further hike tariffs on key U.S. exports like American whiskey and California wine.
A joint statement from Distilled Spirits
...More info on site
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USA, MI: Detroit’s Eastern Market Brewing acquiring Axle Brewing Company
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Earlier this summer, Axle Brewing Company announced they would cease production and close Ferndale’s Livernois Tap & Brewery. On Friday, September 27 Detroit’s Eastern Market Brewing Co. announced they are acquiring Axle, Brewbound reported.
Axle Brewing Co. President Dan Riley said, “When we made the difficult decision to close at the end of June, we shared that our goal was to secure a buyer that holds our values and interest in this vibrant community with the infrastructure and scale to succeed. We are thrilled Eastern Market Brewing Co. is coming on board to make it a reality.”
EMBC has been brewing at capacity for much of 2019 and their new Ferndale Project will triple production in close proximity to the existing facility in the heart of Eastern Market. The plan is for the brewery and taproom to open as soon as all licensing is approved, likely in early 2020.
“We’ve followed Axle closely since 2017 when they shifted focus from distribution to their taproom and we’ve admired all that Dan and his team did for the Ferndale community. When Axle announced they would be closing, I reached out to Dan to offer my support. What started as a hug has ended in a
...More info on site
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USA, IA: Kinship Brewing Company hoping to open in Waukee soon
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A new brewery hoping to open alongside the Raccoon River Valley Trail in Waukee wants to be known for more than beer — it aims to be a community gathering point where cyclists can take a break, dog lovers can bring their canine friends and food truck fans can get their appetite fix, DesMoinesRegister.com reported on September 30.
Zach Dobeck, 33, owner of Kinship Brewing Company, is requesting the rezoning of 6.24 acres alongside the trail head of the Raccoon River Trail to prepare for the construction of a gargantuan 13,000 square-foot brewery. The property is west of Northwest 10th Street and north of Hickman Road at the Stratford Crossing development.
The homebrew aficionado turned business owner envisions his new brewery as a community gathering place, hence the name, “Kinship."
He aims to create a space that appeals to Waukee's median age of 32, where young families can hang out and grab a few drinks instead of venturing downtown.
“Everything we would want in a brewery on a site, we’re bringing to Waukee," Dobeck said. "Waukee doesn’t just have to be the place where you raise your kids and leave to have fun.”
Around 10,000 square feet of the brewery is dedicated to beer production.
...More info on site
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Canada, ON: Broadhead Brewing moving to larger facility
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Broadhead Brewing has announced that its brewery and retail store on Auriga Drive in Ottawa is moving to a new and larger facility in the city’s Orléans area, the Canadian Beer News reported.
The final day of business at the current location was September 28th, with the opening date for the new location still to be confirmed.
The announcement also notes that growlers will not be sold or filled at the new brewery, but that return deposits on those previously sold at the current store will be honoured and refunded following the reopening.
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USA, CA: Barley Forge Brewing Co. to close its doors by end of October
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After five years, Barley Forge Brewing Co., the first brewery in Costa Mesa, will be closed by the end of October, OCRegister reported on September 27.
There’s no set date for its last day but the lease is scheduled to expire on Thursday, Oct. 31 and there are no plans to move.
“Building out a brewery costs hundreds of thousands of dollars and typically it takes a year or more just to get through the permitting process. You can’t just pick up and move,” said Mary Ann Frericks, who opened Barley Forge with her husband Greg Nylen, and Kevin Buckley, director of brewing operations, in 2014.
The lease factors into this closure. It’s up for renewal at a significant increase in rent and the brewery’s proprietors are not in agreement with the landlord on its terms. Another consideration in the decision to shutter was the brewery’s location in an area in transition.
“We’re in a neighborhood that’s changed radically in five years and is much less conducive to industrial use than it was. It’s more of a retail hub now,” Frericks said.
Since Barley Forge began brewing, Gunwhale Ales, Bootlegger’s Brewery and Salty Bear Brewing Co. have also opened in the SoBeca district.
But Barley Forge
...More info on site
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USA, MI: Schmuck's Brewing Co. could become Howell Township’s newest craft brewery
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A vacant office building at a gravel pit and concrete business could become a new microbrewery, taproom and eatery near Howell, the Rochester Democrat and Chronicle reported on September 27.
American Concrete Products owner and beer brewer Brad Jonckheere and his wife Alicia have proposed transforming the building at 4944 Mason Road in Howell Township into Schmuck's Brewing Co, and township officials recently approved preloiminary site plans.
"It will have a brewery downstairs and tap room upstairs," Jonckheere said. "It will also have a patio and a lot of things outdoors, like corn hole, fire pits and gathering tables, and igloos (made of clear plastic) in the wintertime with a heater in the center."
He said Schmuck's Brewing Co. will eventually brew about 18 to 24 beers onsite.
"We'll do a lot of the most popular styles, IPAs, pilsners, sours, amber ales and lagers," he said. "We'll also do spirits and wine, all produced onsite. For spirits, we want to do gin, vodka, whiskey and bourbon."
The microbrewery and pub will get up and running in phases.
"Initially, it will be production only," Jonckheere said. "We'll start brewing. ...We'll start with a small one-barrel pilot system and then we are looking at a 10-barrel
...More info on site
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USA, MA: Mystic Brewery announces upcoming closure
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Chelsea’s Mystic Brewery (174 Williams St.) is closing soon, winding down operations over the next few weeks, founder and brewer Bryan Greenhagen announced via the brewery’s Instagram account on September 27.
“During [the next few weeks] we will be celebrating what our brewery has accomplished by releasing some final batches, special beers, and selling off our beer archive as well as selling off all of our barrels to the public,” Greenhagen wrote, noting that details will be announced as plans are made. “All of us at Mystic extend our eternal gratitude to everyone who helped us and supported us in our mission to change beer culture for the better in Boston and beyond.”
Greenhagen founded the brewery in 2011, drawing inspiration from old Belgian traditions. The taproom debuted in 2014. In early 2018, former Eater Boston beer writer Alex Wilking described the brewery as one of five to watch that year. “In what seemed like an about-face, Mystic more or less rebranded and emerged as a hop juggernaut for the city late last year,” Wilking wrote. “Where there was once an IPA-less catalog, the Chelsea brewery is now pumping out double IPAs like Illegal Dance Moves, a 9 percent ABV monster made
...More info on site
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USA, OH: Black Cloister Brewing Co. announces permanent closure
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After four years of brewing and pouring its own beers and ales, Black Cloister Brewing Co. on Monroe Street in Toledo announced permanent closure on Monday, September 30, the Toledo Blade reported.
In an email sent to the brewery’s Mug Club members, the business at 619 Monroe St. said it was ceasing operations because of a cash-flow problem that is not improving.
"We would like to thank you for your loyal support over the last four years of our business operations. You have been there for our business and assisted in spreading the word concerning the excellent beers that we have produced over the years. Unfortunately we have reached a point where the business cash flow is critical and continuing business operations will soon not make financial sense,” the email stated.
The brewery was begun in March, 2015, by CEO and founder Tom Schaeffer and his business partners Bob Hall, Mike Kennedy, and Scott Biddle.
The investors installed a seven-barrel, electric brewing system inside the brewery and brewpub building that dates back to 1874 was believed to be the first building in Toledo to be wired for electricity.
The brewery had a brewing capacity of 2,000 barrels of beer a year.
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Thailand: ThaiBev’s full-year net profit expected to rise 16% YoY
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ThaiBev is in for a big toast as the company's full-year net profit is expected to rise 16% YoY to $1.10 bln (THB24.4 bln)
...More info on site
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Asia: ThaiBev to invest in renovating 25-year-old breweries and increasing sales
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Singapore-listed Thai Beverage (ThaiBev), Thailand's biggest drinks company, will spend 7 billion baht next year to renovate 25-year-old breweries and increase sales from all
...More info on site
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UK: Molson Coors Brewing Company UK’s pre-tax profit decline in 2018
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Pre-tax profits have fallen by £40 mln at the UK arm of American brewing giant Molson Coors, whose brands include Carling, Coors Light, Cobra
...More info on site
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Hong Kong: AB InBev raises $750 mln more in Hong Kong IPO
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Anheuser-Busch InBev (AB InBev) subsidiary, Budweiser Brewing Company Apac, has raised $750 million (R11.47 billion), in addition to the $5 bln it managed to pull off last week in the initial public offering (IPO), the Independent Online reported on October 4.
The group said on October 3 that investors fully exercised an over-allotment option in connection with the IPO of a minority stake of its Asia Pacific subsidiary by selling extra 217.76 million shares.
“Such shares represent approximately 15 percent of the total number of the offer shares finally available under the initial public offering before any exercise of the over-allotment option,” the group said. The shares were sold for HK$27 (R52.66) each.
AB InBev intends to apply all of the net proceeds from the offering to repay its huge debt, part of which emanated from its acquisition of SABMiller for $100 bln in October 2016.
The group said upon the full exercise of the over-allotment option, it would control 87.22 percent of the issued share capital of Budweiser Apac.
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India: AB InBev to launch chain of microbreweries in India
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AB InBev, the world’s largest brewer, will launch a premium chain of microbreweries in India in a partnership with The Indian Hotels Company Limited (IHCL), BeverageDaily.com reported on October 4.
AB InBev and IHCL – the largest hospitality company in Southeast Asia – will open 15 microbreweries over the next five years, located within IHCL hotels.
The microbreweries will be conceptualized by ZX Ventures, AB InBev’s global innovation and investment team.
“This exclusive partnership will leverage the collective strengths of the two leading companies to shape the future of quality craft beer in India,” say the two companies in a statement.
“AB InBev, with its in-house brewing expertise will offer the best craft beers using the finest natural ingredients. This coupled with IHCL’s culinary prowess and exemplary service, housed in a vibrant and high-energy environment, will celebrate the spirit of new India."
JOI Design from Hamburg will design the microbreweries.
The microbreweries will be located in the top urban cities in India, the first of which will be at Taj MG Road, Bengaluru, followed by Goa, Mumbai and Hyderabad.
Incorporated by the founder of the Tata Group, Jamsetji Tata, IHCL operates 190 hotels (including 38 under development) across 12 countries. These include Taj – ‘the hallmark
...More info on site
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Vietnam: Sabeco on a journey of transformation a year after ownership change
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Vietnam’s Saigon Beer Alcohol Beverage Corp (Sabeco) has been on a journey of transformation over the past year, culminating in the recent relaunch of its flagship brand beer brand Bia Saigon, Warc reported on October 3.
It’s been a year since ThaiBev gained control of the management board of Sabeco, acquiring a majority stake when the state-owned brewer was sold off, and announced its intention to reform the company and make it more efficient.
That began with initiatives around packaging and logistics as well as investment in new production capacity and the introduction of a performance-based salary structure aimed at motivating employees. But branding was also an issue as Sabeco General Director Bennett Neo admitted the brand portfolio had been “all over the place”.
The latest activity has been focused on brand rejuvenation, with a recent overhaul of the look of its flagship Bia Saigon brand, designed to reflect the different features of the three products in the family: Bia Saigon Special, Bia Saigon Export, and Bia Saigon Lager.
“The introduction of the new look of our flagship brand, Bia Saigon, is part of a holistic campaign to rejuvenate the iconic, beloved brand of the Vietnamese people,” said Neo.
“Currently, we are also looking at
...More info on site
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