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VietNamNews

State reduces holdings in brewery

Update: January, 16/2012 - 09:48

HA NOI — The Sai Gon Beer Alcohol and Beverage Corporation (SABECO) reduced State capital to 51 per cent from 89.51 per cent under an equitisation scheme approved by the Government.

SABECO now has a total charter capital of VND6.4 trillion (US$304.7 million), and is selecting strategic partners. After the equitisation, the corporation will list its shares on the stock market.

The corporation is also considering withdrawing capital from its affiliates to focus on its core business.

To raise the business effectiveness, SABECO will restructure its production process, sales systems and policies, organisation structure, personnel management and distribution systems.

This year, it will continue improving standards on the product quality and hygiene, equipping with advanced technologies.

SABECO and its affiliates have applied international standards, including ISO 9001:2008, ISO 14001:2004, and hazard analysis and critical control points (HACCP).

The International Bureau Veritas Certification Organisation granted certificates for quality management, food safety and environmental systems to three units of SABECO, including the corporation administration office, Sai Gon-Nguyen Chi Thanh Beer Co and Sai Gon – Cu Chi Brewery Co. — VNS

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