China's Kingway to Break Even on New Plants in 2008 - ResearchInChina

Date:2007-06-08jinxia  Text Size:

Hong Kong, June 7 - Kingway Brewery Holdings Ltd., a leading regional beer producer, says three new plants in the north, southwest and northwest of China will break even by end-2008 as it grows in the country's booming beer market.

Kingway -- about a fifth owned by Heineken N.V. via a joint venture -- already commands over 50 percent of the beer market in China's southern city of Shenzhen. It has opened plants in Tianjin, Chengdu, and Xian in the past 12 months.

"The focus going forward is still going to be Guangdong province -- that will remain our core market," director and chief financial officer Anna Liang told Reuters on Thursday.

"Tsingtao, CR Snow, and others have done very well outside of Guangdong, but that market is still big enough to accommodate another brand."

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