Czech Republic: Budejovicky Budvar’s production up 5% in 2006
The Czech state-owned brewery Budejovicky Budvar NP said Thursday its production was up 5 percent in 2006 as exports rose by 7 percent, Dow Jones Newswires reported February 22.
Budvar produced a total of 1.15 million hectoliters of beer in 2006, the company said in a statement. Of that, a record of 556,000 hectoliters, or 48 percent, was exported to 50 countries worldwide, with Germany and Britain among the company's most important markets, it said.
No financial details were provided.
The Budvar brewery had revenue of 2.5 billion Czech koruna ($116 million) in 2005, compared with CZK2.3 billion the previous year.
Budvar has been fighting a centurylong legal battle with U.S. beer giant Anheuser-Busch Cos Inc in a number of countries over use of the famous Budweiser brand, which both companies claim a historical right to use.
Agriculture Minister Petr Gandalovic, whose ministry is in charge of the state-owned company, Wednesday said that the government will work to prepare Budvar for privatization. "The Cabinet will definitely discuss it during its term in office," he said.
Trade Minister Martin Riman estimated that Budvar was worth as much as CZK30 billion.
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