OTHER NEWS - Oct. 31, 1994
From Times Staff and Wire Reports
Tsingtao Beer in Expansion Drive: China’s largest beer maker bought an east China brewery as part of an acquisition campaign designed to transform the regional firm into a national brewer. Tsingtao acquired Yangzhou Brewery in the booming province of Jiangsu for $9.4 million, and renamed it as a branch, the company said. With sales gaining 20% a year, China is the world’s second-largest beer producer, outranked only by the United States. Heineken, Carlsberg and Foster’s Brewing Group Ltd. have started brewing projects in China recently.
