04 March, 2003

Denmark's Carlsberg Breweries announced it had no ambitions to be among the world's top three biggest brewers but would focus on its core European markets, local media reported. "We have no wish to be the No. 1, 2 or 3 brewer in the world...Size is no longer an objective in itself," Carlsberg Breweries Chief Executive Officer Nils S. Andersen told daily Berlingske Tidende in an interview. "We are a medium-sized international brewer. There is a long way to the biggest," said Andersen, adding that measured on beer volumes brewed, Carlsberg is currently number five in the world. "We will concentrate on west and eastern Europe where we are dominating and where we make good money," the paper quoted Andersen for saying.

Andersen's predecessor was very keen on making Carlsberg one of the world's biggest brewers, focusing on volume growth via acquisitions.
Carlsberg shares have lost almost 30 percent so far this year, while Copenhagen bourse's top-20 KFX index is 12% lower. By 0819 GMT, the stock was 0.5% off at 221.50 crowns. (Reuters)

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