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|Tuesday, January 17, 2012||09:32|
(drinks media wire) - SABMiller plc (SAB.L) one of the world's leading brewers, today announces that China Resources Snow Breweries Limited ("CR Snow"), its joint venture with China Resources Enterprise Limited ("CRE"), is launching a trial of SABMiller's international premium brand, Miller Genuine Draft, in the Zhejiang region of China.
The introduction of Miller Genuine Draft into the Zhejiang market gives the company the opportunity to test the potential for its international brand with a premium beer imported from the USA.
The joint venture has achieved significant growth for local brand ‘Snow', which is both the largest beer brand in China and in the world by volume. CR Snow had a 21% share of the Chinese beer market with sales of more than 92 million hectolitres (1 hectolitre = 100 litres) in 2010.
CR Snow is the exclusive importer and will utilise its existing infrastructure to service the market, with Miller Genuine Draft initially available in Hangzhou and Wenzhou following a launch event to be held in Hangzhou on 16th January.
Ari Mervis, SABMiller's Managing Director, Asia Pacific, said: "This is an exciting opportunity to introduce one of our international brands into the fast-growing premium segment in China in a way which takes advantage of CR Snow's strong market position in the region."
Zhejiang is one of the largest markets in Central China and its capital, Hangzhou, has one of the highest GDPs of the provincial large cities.
Notes to editors
SABMiller plc is one of the world's largest brewers with brewing interests and distribution agreements across six continents. The group's wide portfolio of brands includes premium international beers such as Pilsner Urquell, Peroni Nastro Azzurro, Miller Genuine Draft and Grolsch, as well as leading local brands such as Aguila, Castle, Miller Lite, Snow and Tyskie. SABMiller is also one of the world's largest bottlers of Coca-Cola products.
In the year ended 31 March 2010, the group reported US$3,803 million adjusted pre-tax profit and group revenue of US$26,350 million. SABMiller plc is listed on the London and Johannesburg stock exchanges.
About China Resources Snow Breweries Limited
China Resources Snow Breweries Limited was established in 1993 and became a joint venture with SABMiller plc in 1994. It is engaged in the production, sales and marketing of beer in China. Its shareholders are China Resources Enterprise, Limited and SABMiller Asia Limited, a subsidiary of SABMiller plc. China Resources Enterprise, Limited has a 51% interest in China Resources Snow Breweries Limited while SABMiller Asia Limited holds the remaining 49% interest. In 2010, it operated over 70 breweries in China with a total beer sales volume of about 92 million hectolitres. It is the largest beer company in China by sales volume.
About China Resources Enterprise, Limited
China Resources Enterprise, Limited is listed on the Hong Kong Stock Exchange and is one of the constituent stocks of the Hang Seng Index in Hong Kong. The Group focuses on the consumer businesses including retail, beer, food and beverage in China.
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