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The Sichuan China Resources Lanjian Co., Ltd. was founded Sunday in this capital of Sichuan Province, southwest China, with the signing of the country's largest beer brewery merger deal.
The new brewery has a total assets worth two billion yuan (241 million U.S. dollars) and is capable of producing 1.5 million tons of beer a year.
The three-party deal was made by the Sichuan Lanjian Group, the China Resources Holding Co. and the SAB International Vintage Group.
The merger will pool the three companies' assets, brand vigor, market, technological development capacity, management and personnel strengths.
Lanjian Group has 38 percent of the new company's stakes, while China Resources and SAB take 31.62 percent and 30.38 percent respectively.
Industry insiders expect the merger to end the cut-throat competition among small beer producers in China.
(Xinhua News Agency 10/29/2001)
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