ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

RB

0.015
0.00 (0.00%)
17 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
TSXV:RB TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.015 0.01 0.015 0 01:00:00

Russell Breweries Inc.: Test Craft Brewery Now Open in Eastern China

02/10/2013 11:56pm

Marketwired Canada


Russell Breweries Inc. (TSX VENTURE:RB) is pleased to report that its partners
in China (Russell Breweries Inc. China "RBIC") have now completed construction
on the new test brewery in Hefei, China. The brewery is now fully operational
and its adjoining restaurant is ready to open in the coming days.


This will be the first brewery in this region of China to offer premium
small-batch beers made to North American craft brewing standards. Standard
quality control protocols will be monitored by a Senior Brewer, Kevin Wilson
from the Company's head office in British Columbia, Canada. Kevin is currently
in China training local brewers and overseeing the implementation of the
company's stringent quality control measures to ensure product consistency.


"This is an exciting partnership opportunity for the Company," said (Benjamin)
Li Yu, Interim CEO, Russell Breweries Inc. "China is the world's largest beer
market, however craft beer is still in its infancy. We see a significant growth
opportunity in this segment. Changing consumer preferences are propelling a type
of craft beer revolution, and China is on track to become the next craft beer
powerhouse. As one of the first North American craft brewers to establish a
presence in China, Russell is well positioned to capitalize on this emerging
market."


The brewery is located in the city of Hefei which is the Capital and largest
city in the Anhui Province of Eastern China with a population of 5.7 million. It
is a booming industrial city that is open to international development and has
had very strong economic growth.


About Russell Breweries Inc.

Russell Breweries Inc. is leading Western Canadian brewer. It brews, markets,
sells and distributes a diverse portfolio of award-winning beers that are
produced by its wholly-owned regional breweries: Russell Brewing Company in
British Columbia and Fort Garry Brewing Company in Manitoba. Both breweries are
dedicated to producing high-quality, flavourful ales and lagers. Russell
Breweries Inc. is publicly listed on the TSX Venture Exchange (TSX VENTURE:RB).


About Russell Breweries Inc. China

In 2012 Russell Breweries Inc. signed a definitive agreement with FVI Capital
Inc., a Vancouver-based private equity company, for a non-exclusive technology
and trade mark license agreement to import, produce, package, use, market, sell
and distribute Russell brands in China, Hong Kong and Taiwan. The principal
terms of the agreement included an initial up-front licensing fee and ongoing
royalties based on volume of beer produced and sold in China. Under the terms of
the agreement, a new Company named Russell Breweries China Inc. ("RBCI") was
established and Russell Breweries Inc. subscribed for a 20% equity position.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Russell Breweries Inc.
(Benjamin) Li Yu
Director and Interim CEO
604.812.8723
604.596.1048 (FAX)
benjamin.yu@russellbeer.com

1 Year Russell Breweries Inc. Chart

1 Year Russell Breweries Inc. Chart

1 Month Russell Breweries Inc. Chart

1 Month Russell Breweries Inc. Chart