06 October, 2006

China: San Miguel plans to stop brewing at Guangzhou San Miguel Brewery

San Miguel Brewery in Hong Kong intends to stop beer production at Guangzhou San Miguel Brewery, one of its facilities in China. Guangzhou San Miguel Brewery, 30% owned by Guangzhou Brewery and 70% by San Miguel Guangdong, is to focus only on the sale and distribution of beer. Guangzhou San Miguel Brewery was created in 1990.

Guangzhou San Miguel Brewery has agreed with its shareholder Guangzhou Brewery to halt beer production, reports said earlier this week.

Guangzhou San Miguel Brewery has subsequently agreed to pay Guangzhou Brewery CNY32.2m (US$4.07m) with an additional CNY37.29m going to Guangzhou Brewery for the production facilities.

In 2005, San Miguel Guangdong saw full-year operating profits almost triple.

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