Leading Chinese beer producer Tsingtao Brewery, partly-owned by Anheuser-Busch, expects its sales will grow by 20% per year from 2008-2013 as it has plans to build new plants and add more production lines.
According to Chinese press reports, the company will have an extra production capacity of 1 million tons by early 2008 thanks to 3 new plants in Shandong, Sichuan and Shaanxi.
Tsingtao Brewery has 50 plants in 20 provinces across China. The firm produced 4.5 million tons of beer in 2006 and hopes to increase sales of its trademark Tsingtao brand by 17% this year.
Tsingtao Brewery is responsible for more than half of China's beer exports and will be sponsoring the 2008 Olympic Games in Beijing.