China: The Netherlands’ brewing giant, Heineken N.V., sees a possible takeover in China and reiterated that the low dollar will slice 81 million euros ($108 million) from its 2004 net profit, a Swiss newspaper said on Wednesday, December 22. "The Chinese market has a big potential. There the annual beer consumption per head is 20 to 22 litres while it is 100 liters in Germany. All four big brewers are present in China, There could be big surprises there," chief executive Thony Ruys told the Finanz und Wirtschaft twice-weekly paper.
Asked whether Heineken would create the surprise, Ruys said; "Just wait. I do not exclude acquisitions in China." Heineken is active in China via its Heineken APB China venture with Asia Pacific Breweries and it has a 21 percent stake in Kingway Brewery Holdings Ltd.
The leading brewer in China is Tsingtao. "Tsingtao cooperates with Anheuser-Busch. But there are many other breweries. We are also open for partnerships," he said.
Ruys added that Heineken also wants to make further acquisitions in Russia and plans to expand further in Germany together with its partner Schoerghuber-Gruppe. According to Ruys the company is looking to grow in central and eastern Europe, South Africa,South America and in Asia.
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