14 April, 2006

China: Tsingtao Brewery to buy production-related assets of Baoji Beer Co

China's Tsingtao Brewery Co stated to Forbes on 12 Aprl that it agreed to buy the production-related assets of Baoji Beer Co based in Shanxi province for 123.32 milllion yuan in cash.

In a statement to the Shanghai Stock Exchange, the firm said the purchase will help it maintain its leading position in northwestern China's beer market. It said the acquisition will help it boost annual production capacity by 0.2 mln kiloliters after the acquisition.

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