Beverages News
- SABMiller to buy 4 more Chinese breweries
Date: 27-Aug-2007 Sources: (Shenzhen Daily)
SABMILLER'S joint venture in China said Friday that it has agreed to buy four more breweries in the country in separate transactions valued at a total of US$79 million.
China Resources Snow Breweries Ltd., a joint venture with China Resources Enterprise Ltd., is buying two breweries in Liaoning Province, one brewery in Anhui Province and one in Hunan Province. Their acquisition will boost production of the Snow brand of beer by more than 5.5 percent, said SABMiller, the London-based parent company of Miller Brewing Co. of Milwaukee.
Rockwell Automation expects 20% growth
MANUFACTURER Rockwell Automation Inc. expects 20 percent revenue growth in China this year and in 2008, boosted by infrastructure projects and fast growing consumer industries, the company said Friday.
That growth would double the 10 percent revenue growth that the company expects globally this year, and follows the double-digit growth it has posted in China over the past four years. Rockwell's businesses on the mainland run from its traditional power generation, steel and infrastructure-related projects, to fast-growing consumer industries such as automobiles, pharmaceuticals and healthcare.
Rockwell's main rivals are Mitsubishi Electric Corp. and Siemens AG. Rockwell's profit rose 10 percent to $164.2 million in the most recent quarter, helped by strong foreign demand for its industrial control systems.
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