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SABMiller announces construction of $34m brewery in Namibia

23 April 2010

SABMiller announces that its Namibian subsidiary, SABMiller Namibia (Pty) Limited, is to build a US $34 million brewery on 7.2 hectares of land outside Okahandja city, 70km north of Windhoek.

Construction on the 220,000 hectolitre capacity brewery is expected to start in the second half of 2010 and will also include a returnable bottle packaging line and warehousing facilities. The brewery will produce the Castle and Castle Lite brands.

SABMiller Namibia (Pty) Limited will be 60% owned by SABMiller, with the remaining 40% owned by local Namibian partners in a broad-based black economic empowerment (BEE) initiative. The BEE component comprises 20% ownership by Onyewu Investments (Pty) Limited and 20% by three charitable trusts working on behalf of the communities in the Omaheke, Karas and Northern regions of Namibia.  

Cobus Bruwer, SABMiller's country representative, said: "We have been importing beer into Namibia for over 20 years and such a significant investment symbolises our current optimism in the country. We will continue to work with our local partners to provide consumers with top quality products, further expand our portfolio and contribute meaningfully to the Namibian economy and communities."

SABMiller currently has an estimated 22% local market share through brands such as Castle Lager, Carling Black Label, Peroni Nastro Azzurro and Castle Lite.

A Share Subscription Agreement governing the subscription for shares in SABMiller Namibia and a Shareholders' Agreement governing the affairs of the shareholders in SABMiller Namibia were signed in Windhoek today. These agreements are subject to conditions precedent customary for agreements of this nature.

Ends

SABMiller plc


SABMiller is one of the world's largest brewers with brewing interests and distribution agreements across six continents. The group's wide portfolio of brands includes premium international beers such as Grolsch, Miller Genuine Draft, Peroni Nastro Azzurro and Pilsner Urquell, as well as market-leading local brands such as Aguila, Castle, Miller Lite, Snow and Tyskie. SABMiller is also one of the largest bottlers of Coca-Cola products in the world.
In the year ended 31 March 2009, the group reported US$3,405 million in adjusted pre-tax profit and group revenue of US$25,302 million. SABMiller is listed on the London and Johannesburg stock exchanges.

Enquiries:  
  
SABMiller plc
+44 20 7659 0100
  
Jonathan Oates
Business Media Relations Manager, SABMiller plc
+44 20 7659 0144
  
Robyn Chalmers
Head of Media and Communications, SAB Ltd 
+27 11 881 8679

This announcement does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of SABMiller plc (the "Company") or any of its affiliates in any jurisdiction or an inducement to enter into investment activity.
This document includes "forward-looking statements".  These statements may contain the words "anticipate", "believe", "intend", "estimate", "expect" and words of similar meaning.  All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Company's products and services) are forward-looking statements.  These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements.  These forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future.  These forward-looking statements speak only as at the date of this announcement.  The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Any information contained in this announcement on the price at which the Company's securities have been bought or sold in the past, or on the yield on such securities, should not be relied upon as a guide to future performance.


 

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