HEINEKEN signs joint venture agreement in Myanmar
(Thomson Reuters ONE) -
Amsterdam, 13 May 2013 - Heineken N.V. ('HEINEKEN') today announced that it has
entered into a local joint venture agreement with privately-owned Alliance
Brewery Company Ltd (ABC) to brew and sell HEINEKEN beers in Myanmar. ABC is
majority-owned by Aung Moe Kyaw, a local entrepreneur and established leader in
the spirits industry. The new joint venture company, APB Alliance Brewery
Company Limited, which will build a new greenfield brewery in the country, has
been approved by the Myanmar Investment Committee (MIC).
Under the terms of the agreement, HEINEKEN, through its subsidiary Asia Pacific
Breweries Limited, will have a controlling 57 percent stake in the new joint
venture company and be responsible for overall management, providing brewing and
technical expertise, procurement of ingredients and the licensing of brands.
The brewery will be located near the country's capital Yangon and is expected to
be operational by the end of 2014. The joint venture company plans to invest
US$60 million in the brewery, create more than 400 jobs and brew leading brands,
including Heineken®.
The new company will implement HEINEKEN's global policies and approaches in
relation to Employees and Human Rights, Supplier Code, local sourcing, water
management, employee healthcare, community investment and responsible alcohol
marketing.
HEINEKEN's announcement follows the European Union Council decision on 22(nd)
April 2013 to lift all sanctions, with the exception of the embargo on arms. It
also reflects the recent international recognition by many countries of
Myanmar's progress in terms of both political and social reform and the decision
of a number of global companies to announce plans to enter the country ((1)).
Jean-François van Boxmeer, HEINEKEN CEO and Chairman of the Executive Board
said: "This is a truly exciting business opportunity that expands further our
exposure to high growth markets. There is a growing recognition of the positive
progress that Myanmar is making in terms of its political and social reforms.
Through our investment, job creation and implementation of our global policies,
I believe that we will support this process."
Aung Moe Kyaw, Chairman, Alliance Brewery Company Ltd said: "We are excited by
the prospect of working with a world class organisation such as HEINEKEN. We
believe our knowledge and experience of the local market combined with the
brewing and marketing know-how of HEINEKEN will deliver excellent products as
well as attractive employment opportunities for the people of Myanmar."
Note to editors:
((1)) Companies that have recently announced plans to enter Myanmar include:
PepsiCo (10(th) August 2012), The Coca-Cola Company (12(th) September 2012),
Carlsberg (1(st) February 2013) and most recently Ford Motor Company (April
30(th) 2013).
Press enquiries
John Clarke
E-mail: pressoffice(at)heineken.com
Tel: +31-20-5239-355
John-Paul Schuirink
E-mail: pressoffice(at)heineken.com
Tel: +31-20-5239-355
Investor and analyst enquiries
George Toulantas
E-mail: investors(at)heineken.com
Tel: +31-20-5239-590
Editorial information:
HEINEKEN is a proud, independent global brewer committed to surprise and excite
consumers with its brands and products everywhere. The brand that bears the
founder's family name - Heineken® - is available in almost every country on the
globe and is the world's most valuable international premium beer brand. The
Company's aim is to be a leading brewer in each of the markets in which it
operates and to have the world's most valuable brand portfolio. HEINEKEN wants
to win in all markets with Heineken® and with a full brand portfolio in markets
of choice. The Company is present in over 70 countries and operates more than
165 breweries with volume of 221 million hectoliters of group beer sold.
HEINEKEN is Europe's largest brewer and the world's third largest by volume.
HEINEKEN is committed to the responsible marketing and consumption of its more
than 250 international premium, regional, local and specialty beers and ciders.
These include Heineken®, Amstel, Anchor, Biere Larue, Bintang, Birra Moretti,
Cruzcampo, Desperados, Dos Equis, Foster's, Newcastle Brown Ale, Ochota, Primus,
Sagres, Sol, Star, Strongbow, Tecate, Tiger and Zywiec. Our leading joint
venture brands include Cristal and Kingfisher. Pro forma 2012 revenue totaled
?19,765 million and EBIT (beia) ?3,151 million. The number of people employed is
over 85,000. Heineken N.V. and Heineken Holding N.V. shares are listed on the
Amsterdam stock exchange. Prices for the ordinary shares may be accessed on
Bloomberg under the symbols HEIA NA and HEIO NA and on the Reuter Equities 2000
Service under HEIN.AS and HEIO.AS. Most recent information is available on
HEINEKEN's website: www.theHEINEKENcompany.com.
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Source: HEINEKEN NV via Thomson Reuters ONE
[HUG#1700863]
Unternehmensinformation / Kurzprofil:
Datum: 13.05.2013 - 09:09 Uhr
Sprache: Deutsch
News-ID 259009
Anzahl Zeichen: 6064
contact information:
Town:
Amsterdam
Kategorie:
Business News
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