COPENHAGEN, Denmark, Jan. 29, 2002 (PRIMEZONE) -- Carlsberg Brewery Hong Kong Ltd., a subsidiary of Carlsberg Asia, and TCC International (H.K.) have entered into an agreement that each party acquires 25 percent of the Lao Brewery. The remaining shares are held by the government of Laos.
Carlsberg Brewery Hong Kong Ltd., a subsidiary of Carlsberg Asia, and TCC International (H.K.) have entered into an agreement to each acquire 25 percent of the Lao Brewery. The remaining shares are held by the government of Laos. The three partners have entered into a shareholders agreement and have agreed not to disclose the price of the acquisition.
The Lao Brewery is a modern brewery, recently upgraded through the addition of a new automatic brewhouse and packaging lines. The present yearly production is approx. 600,000 hl beer and the capacity is 1 million hl. The Lao Brewery is the only brewery in Laos, and it has a 98 percent market share.
The population of Laos is 5.6 million with a yearly growth rate of 2.5 percent. The yearly GDP growth is 4 percent, and the consumption of beer is expected to increase as a result of the economic growth.