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China. Tsingtao Brewery plans to build overseas plants

Tsingtao Brewery, China's largest beer brewer, said on Thursday it is planning to build more factories overseas.
Jin Zhiguo, president of the Tsingtao Brewery Co Ltd, said the company will build more factories in the overseas market to increase sales and facilitate its overseas expansion. But Jin didn't give more details.
The largest Chinese beer exporter opened its first overseas manufacturing plan in Thailand four years ago.
In 2010, Tsingtao Brewery sold 6.3 million kiloliters of beer, an increase of about 7 percent year-on-year. The company now exports to more than 70 countries and regions. From 2006 to 2008, Tsingtao Brewery was ranked as the world's sixth largest brewer.
According to China Economic Times, China Resources Snow Breweries, Tsingtao Brewery, Anheuser-Busch InBev and Yanjing Beer accounted for a combined 58 percent of China's beer market in terms of sales. All told, their profits accounted for 72.5 percent of those of the industry in 2010.
The Chinese market has become more competitive as more international brewers stepped up their effort to tap the Chinese market through mergers and acquisitions. Carlsberg spent 238.5 billion yuan on a 12.25 percent stake of Chongqing Brewery in September 2010. The deal came six months after Asahi Group purchased a 19.99 percent stake of Tsingtao Brewery.
"The competition is fierce in China and what Tsingtao can do is to learn the from our competitors," Jin said.
On rising grain prices, Jin said they will surely increase the cost of making brewing. But "we will streamline our process and reduce the overall costs", he said.
Jin made the remarks at the sidelines of the annual session of the National People's Congress, China's top legislature. Jin is a deputy to the National People's Congress.

11 Mar. 2011

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