Thailand & China: Tsingtao Brewery enters South-eastern Asian market
China's leading beer maker, Tsingtao Brewery Co., Ltd, will set up a Thailand marketing branch in Bangkok, called Tsingtao Thailand Marketing Co., Ltd, as the first step to enter the south-eastern Asian market, Xinhua news agency announced on July 4. Earlier on July 4 Tsingtao Brewery signed a contract for the establishment of Tsingtao Thailand Marketing Co, with a registered capital of 15 million Thailand Baht (about USD 363,000), 30% from Tsingtao Brewery and 70 % from Thailand.
That means that Tsingtao Brewery will export its brand, technology and production standards and not just its products, said the corporation president Jin Zhiguo at the contract signing ceremony on Monday, July 4.
The company will try to weave a marketing network in Thailand, based on which Tsingtao Brewery will develop cooperation with local brewers. The high tariffs in south eastern Asian countries makes it difficult for Tsingtao Beer to enter this area.
Jin said this is a "market first and factory second" mode that attempts to develop the overseas market. The Thai government said they will support Tsingtao Brewery's development plan.
Thailand reported beer consumption of 15.9 million hl last year, still with great potential in this field.
Tsingtao Brewery has 50 subsidiaries in China, dotted in 18 provinces, autonomous regions and municipalities. Its yearly production capacity reached 5.1 million kiloliters last year while it achieved a sale of 8.6 billion yuan (about one billion US dollars), a year-on-year growth of 14.8 percent. (1 usd = 41.41 baht; 8.3 yuan)
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