Asia Pacific Breweries to Build New Brewery in GZ

Source: Drinks Business Review

Asia Pacific Breweries has announced that its joint venture company Heineken-APB, through its wholly owned subsidiary Guangzhou Asia Pacific Brewery, will build a greenfield brewery in the Huangpu District of Guangzhou City, Guangdong, China.

The investment, which is estimated to be approximately RMB600 million, will be financed through a combination of external borrowings and internal funding by Heineken-APB's (HAPBC) shareholders in proportion to their respective shareholdings. HAPBC is equally-owned by Asia Pacific Breweries and Asia Pacific Investment, a 50-50 joint venture of Fraser & Neave and Heineken.

Koh Tiong, CEO of Asia Pacific Breweries, said: "The greenfield brewery investment in Guangzhou is aligned with our growth strategy for China. It is designed to fulfill two key objectives - to accelerate our advancement in south China, and to enable us to focus on further expanding the Hainan market."

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Editor: Carrot Chan