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2007-6-18 12:38:00 p.m. HKT, XFNA
HK-listed San Miguel sees planned Yuen Long brewery closure hitting profit
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HONG KONG (XFN-ASIA) - San Miguel Brewery Hong Kong Ltd said the planned
closure of its brewery in the Yuen Long district in September this year may
have a material short-term negative impact on the group's profitability.
It said it may incur significant one-time restructuring expenses in
relation to the closure of the brewing operations.
It did not provide a specific estimate of the restructuring cost.
The company had shut down other breweries in Hong Kong in the past in
favor of China, where production costs are lower.
The company said it has not decided on any definitive restructuring plan
for the Yuen Long facility following the halt in beer brewing operations,
but options are being considered, including the production of non-alcoholic
beverages or liquor.
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