HEINEKEN NV : HEINEKEN signs joint venture agreement in Myanmar
Amsterdam, 13 May 2013- Heineken N.V. ('HEINEKEN')today announced that it
has entered into a local joint venture agreement with privately-owned Alliance
Brewery Company Ltd (ABC) tobrew and sell HEINEKEN beers in Myanmar. ABC is
majority-owned by Aung Moe Kyaw, a local entrepreneur and established leader
in the spirits industry. The new joint venture company, APB Alliance Brewery
Company Limited, which will build a new greenfield brewery in the country, has
beenapproved by the Myanmar Investment Committee (MIC).
Under the terms of the agreement, HEINEKEN, through its subsidiary Asia
Pacific Breweries Limited, will have a controlling 57 percent stake in the new
joint venture company and be responsible for overall management, providing
brewing and technical expertise, procurement of ingredients and the licensing
The brewery will be located near the country's capital Yangon and is expected
to be operational by the end of 2014.The joint venture company plans to
invest US$60 million in the brewery, create more than 400 jobs and brew
leading brands, including Heineken®.
The new company will implement HEINEKEN's global policies and approaches in
relation to Employees and Human Rights, Supplier Code, local sourcing, water
management, employee healthcare, community investment and responsible alcohol
HEINEKEN's announcement follows the European Union Council decision on 22^nd
April 2013 to lift all sanctions, with the exception of the embargo on arms.
It also reflects the recent international recognition by many countries of
Myanmar's progress in terms of both political and social reform and the
decision of a number of global companies to announce plans to enter the
Jean-François van Boxmeer, HEINEKEN CEO and Chairman of the Executive Board
said:"This is a truly exciting business opportunity that expands further our
exposure to high growth markets. There is a growing recognition of the
positive progress that Myanmar is making in terms of its political and social
reforms. Through our investment, job creation and implementation of our global
policies, I believe that we will support this process."
Aung Moe Kyaw, Chairman, Alliance Brewery Company Ltd said: "We are excited by
the prospect of working with a world class organisation such as HEINEKEN. We
believe our knowledge and experience of the local market combined with the
brewing and marketing know-how of HEINEKEN will deliver excellent products as
well as attractive employment opportunities for the people of Myanmar."
Note to editors:
(^1) Companies that have recently announced plans to enter Myanmar include:
PepsiCo (10^th August 2012), The Coca-Cola Company (12^th September 2012),
Carlsberg (1^st February 2013) and most recently Ford Motor Company (April
Investor and analyst enquiries
HEINEKEN is a proud, independent global brewer committed to surprise and
excite consumers with its brands and products everywhere. The brand that bears
the founder's family name - Heineken® - is available in almost every country
on the globe and is the world's most valuable international premium beer
brand. The Company's aim is to be a leading brewer in each of the markets in
which it operates and to have the world's most valuable brand portfolio.
HEINEKEN wants to win in all markets with Heineken® and with a full brand
portfolio in markets of choice. The Company is present in over 70 countries
and operates more than 165 breweries with volume of 221 million hectoliters of
group beer sold. HEINEKEN is Europe's largest brewer and the world's third
largest by volume. HEINEKEN is committed to the responsible marketing and
consumption of its more than 250 international premium, regional, local and
specialty beers and ciders. These include Heineken®, Amstel, Anchor, Biere
Larue, Bintang, Birra Moretti, Cruzcampo, Desperados, Dos Equis, Foster's,
Newcastle Brown Ale, Ochota, Primus, Sagres, Sol, Star, Strongbow, Tecate,
Tiger and Zywiec. Our leading joint venture brands include Cristal and
Kingfisher. Pro forma 2012 revenue totaled €19,765 million and EBIT (beia)
€3,151 million. The number of people employed is over 85,000. Heineken N.V.
and Heineken Holding N.V. shares are listed on the Amsterdam stock exchange.
Prices for the ordinary shares may be accessed on Bloomberg under the symbols
HEIA NA and HEIO NA and on the Reuter Equities 2000 Service under HEIN.AS and
HEIO.AS. Most recent information is available on HEINEKEN's website:
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Source: HEINEKEN NV via Thomson Reuters ONE
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