Russia: Molson Coors Brewing Co., the world's fifth-largest brewer, announced on March 30 it is planning to start producing and selling beer at one of Russia's largest breweries, OOO PIT Co as early as next month, seeking to profit from one of the world's fastest-growing markets. Molson Coors mentioned it will invest about $4 million in 2005 to promote its brand in Russia. It will start selling Coors Fine Light Beer in April or May in Moscow and St. Petersburg. All ingredients for the beer will be imported from the Netherlands, Sweden and Germany, Bloomberg said. The investments will total $12 million over the next three years, according to Dow Jones.
The beer maker plans to have 2% of the licensed beer market in Russia by 2006. According to estimates by United Financial Group, a Moscow-based investment bank, the licensed beer segment makes up 5% of the total beer market in Russia and will increase to 8% in the next few years.
Molson Coors joins international brewers such as Interbrew SA, Carlsberg A/S and Heineken NV, in seeking to expand in Russia to make up for slower beer consumption growth in Western Europe and the U.S. Russia and China will together contribute 51 percent to global beer sales in the next five years, according to a July report by Merrill Lynch & Co.
The shares of Molson Coors Brewing Co. fell 81 cents to C$93.30 on March 30, 2005, according to Bloomberg.
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