E-Malt.com weekly newsletter
Week September 23 - September 29, 2002

1. Industry news. 2. Theoretical malt prices 3. Malting barley prices.  

1. Industry news

On September the 25 the offering period of the public bid made by Heineken on September 13 for all the shares of the Egyptian Al Ahram Beverages Company ended. The bid has been successful. 97.8% i.e. in total 20,035,480 shares for US$ 14 per share have been offered to Heineken. So, the total acquisition values more than US$ 280 million. The transaction is expected to be realised on September 29 2002.Al Ahram Beverages Company is the only Egyptian brewery group, with a capacity of about 430,000 hl. Its pilsner beer brand Stella is almost synonymous with beer in Egypt. The company produces as well as non-alcoholic malt beverages, with a volume of about 620,000 hl....www.e-malt.com

Khairullin hopes to make the Russian Krasny Vostok brewery one of the world’s 10 largest breweries. Krasny Vostok is based in Central Russia, Republic of Tatarstan, Kazan city. Khairullin took the ruling of the 100-year-old company in 1996, when the brewery was producing only 2 million dekalitres of beer per year, Moscow Times.com revealed. Last year Krasny Vostok produced 40 million dekalitres and has registered a 68% increase in sales up to $770 million. It paid 1 billion rubles in taxes for that year, becoming the Tatarstan’s fifth-largest taxpayer. "This year, we will produce about 55 million dekalitres," he said in an interview at the company's headquarters on the outskirts of the capital of Tatarstan. Moreover, Krasny Vostok is intending to raise its capacity to 150 million dekalitres per year by investing $60 million in opening a brewery in Novosibirsk in the first quarter of 2003....www.e-malt.com

Beer, wines and spirits importer and distributor, Central European Distribution Corporation (CEDC), has declared that it has signed a Letter of Intent to acquire Onufry Company, a distributor of beers, wines and spirits in the north of Poland with net sales of about $30 million in 2001.This will be CEDC’s sixth acquisition since its initial public offering in July 1998. The company is expecting to complete the acquisition in the fourth quarter of 2002 and increase its earnings....www.e-malt.com

US brewery, Anheuser-Bush (A-B), has won its legal battle with the Czech beer company, Budejovicky Budvar, regarding the Budweiser brand name. A-B declared that the New Zealand Court of Appeal had reversed an earlier High Court decision and interdicted Budejovicky Budvar to import, advertise or sell beer under the Budweiser brand.According to the Court of Appeal decision, Budejovicky Budvar and its New Zealand distributor would have to destroy any products, labels, advertisements and other promotional material under Budweiser brand. However, the court does not affect the Czech company’s rights to use the name of Budejovicky Budvar.

The Canadian brewer, Brick Brewing Company, has announced good results for the second quarter of 2002: 25% increase in sales from C$5.8 million to C$7.2 million; 56% rise of beer volumes. Operating income before interest and amortisation increased from C$0.920 million to C$0.931 million. The company said that lower earnings growth was registered for the Algonquin brand. Jim Brickman, the company’s president and founder said: “"We are very pleased with this quarter's operating results considering the margin shortfall from the Algonquin trademark disposal in July, 2001. This was more than offset by strong performances elsewhere in the Brick beer portfolio, especially the success of the stubby bottle introduction."

Heineken is continuing strengthening its position in growing beer markets by purchasing an additional 69% shares in the Lebanese brewery Almaza S.A.L. Heineken already holds a 10% stake of Almaza for 42 years. The acquisition will increase its total stake to 79%. This move will “create a better balance between the activities of Heineken in mature and in developing markets”, the company said....www.e-malt.com

More news are available on site www.e-malt.com

2. Theoretical malt prices.

  EURO = USD 0.9816 September 25, 2002 
Crop year  2002 
Parity  FOB Antwerp 
Position  Oct 2002-Sept 2003 
Conditioning  Bulk   In bags  Bulk containers  In bags in containers 
Malting barley variety  EURO  USD  EURO  USD  EURO  USD  EURO  USD 
2RS  Prisma  nq  nq  nq  nq  nq  nq  nq  nq 
2RS  Scarlett  309.00  303.50  324.50  318.50  321.50  315.50  330.50  324.50 
2RS  Aspen  309.00  303.50  324.50  318.50  321.50  315.50  330.50  324.50 
2RS  Optic  306.50  301.00  322.00  316.00  319.00  313.00  328.00  322.00 
2RS  Nevada  304.00  298.50  319.50  313.50  316.50  310.50  325.50  319.50 
2RS  Astoria  302.50  297.50  318.00  312.50  315.00  309.50  324.50  318.50 
2RS  Cork   302.50  297.50  318.00  312.50  315.00  309.50  324.50  318.50 
2RS   Average price  306.50  300.50  321.50  315.50  318.50  312.50  327.50  321.50 
2RS  FAQ  301.50  296.00  317.00  311.00  314.00  308.00  323.00  317.00 
6RW  Esterel   276.50  271.50  292.00  286.50  289.00  283.50  298.00  292.50 

3. Malting barley prices - all prices are nominal. French barley prices

EURO = USD 0.9816 September 25, 2002 
 Crop year   2002 
 Parity   FOB Creil 
 Position   July 2002 
Type   Variety  EURO  USD 
2RS  Prisma  nq  nq 
2RS  Scarlett  149.00  146.50 
2RS  Aspen  149.00  146.50 
2RS  Optic  147.00  144.50 
2RS  Nevada  145.00  142.50 
2RS  Astoria  144.00  141.50 
2RS  Cork   144.00  141.50 
6RW  Esterel   126.00  124.00 
6RW  Maeva  nq  nq 

nq - Not quoted
Prices for Danish and UK malting barley are available on site www.e-malt.com

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