For immediate release
12th October, 1998
Carlsbrew Brewery (Shanghai) Ltd. (CBS) opened its brand new US$60 million production facility in the Shanghai Songjiang Industrial Zone today.
A joint venture between Carlsberg Brewery (Hong Kong) Ltd. (95%) and the Songjiang Economic & Technical Development & Construction General Company (5%), CBS has an initial production capacity of 500,000 hectolitres of beer, with the capacity to expand to 3 million hectolitres annually. Swire Pacific Ltd. has a 49% shareholding in Carlsberg Brewery (Hong Kong ) Ltd.
In addition to the internationally-renowned Carlsberg brand, the new plant produces Karhu, a brand of lager of Finnish origin, which was recently selected from among 156 international beer brands from 37 countries to win the prestigious British Bottlers Institute Gold Medal Award for taste and quality. The new brand has been specially formulated for Shanghai customers, following a RMB2 million in market research.
Attending the opening ceremony in Songjiang, Swire Pacific Chairman Peter Sutch stressed Swire's confidence in China. "Swire has been doing business in China since 1866 and Swire Pacific today has interests in a diverse range of joint ventures on the Mainland.
"Our partnership with Carlsberg in CBS follows a strategy we have developed over more than a decade of teaming up with internationally renowned companies to manufacture high quality products on the Mainland, aimed principally at the domestic market. This is our second joint venture on the Mainland with Carlsberg and it is also the second Swire joint venture to be located in the Songjiang Industrial Zone, the first being a paint factory. CBS is a good illustration of our faith in the long-term future of the brewing industry on the Mainland and a testament to Songjiang as an unrivalled centre for industry."
Mr. Michael Iuul, Managing Director and CEO of Carlsberg International, also emphasised the company's commitment to China, "China's attractive investment policies continue to draw substantial foreign investment, including our brewery. To date, we have invested RMB1 billion in China and our investment and expansion here signifies our great confidence on the Mainland."
"In addition, the establishment of CBS as a major partner in the Songjiang Industrial Zone underscores our commitment not only to the development of this newly-upgraded district in Shanghai, but to the development of China's beer industry as a whole. In forming this joint venture, Carlsberg has introduced highly-advanced technology and international quality standards, and has provided professional training for all levels of staff, strengthening the development of the company and the industry."
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