News: SMC to put up 3 Indochina plants -
31 May 2008
FOOD and beverage conglomerate San Miguel Corp. (SMC) plans to further strengthen its presence in Indochina. This, as a company official revealed that preparations are underway to put up this year beer and liquor-manufacturing facilities in three countries in that region to take advantage of the growing markets there. Vice chairman and president Ramon S. Ang said the company is currently looking for opportunities in Laos, Cambodia and Myanmar given the rising tourists arrivals in these countries.
“We are now in talks with several groups for partnerships. Our plan is to produce both beer and liquor. Maybe in the next few months, we can make an announcement,” Ang told reporters at the sidelines of the annual stockholders’ meeting of Ginebra San Miguel Inc. (GSMI).
“We are not building a market from zero because we are already exporting our products in these countries. It will not be hard for us,” Ang said.
In the first quarter, the international beer operations posted 9-percent higher sales volumes with robust sales particularly in Indonesia, Thailand, Vietnam and beer exports. Combined with the improving performance of North China and Hong Kong, net sales reached $63.1 million, up 40 percent over last year.
In 2007, GSMI alone partnered with the ThaiLife Group and formed the Thai San Miguel Liquor Co., Ltd., to produce mostly local spirits and participate in Thailand’s growing liquor market.The facility can produce up to 600,000 hectoliters of liquor a year.
Source:Business Mirror Online, By Honey Madrilejos-Reyes, 31 May 2008