Elders may look at Eastn Bloc brewing

Press, 6 September 1989, Page 41

Elders may look at Eastn Bloc brewing

NZPA-AAP Brisbane Elders IXL chairman, Mr John Elliott, says he might follow Alan Bond’s lead into brewing beer in the Eastern Bloc. “Already they have approached our company to build breweries in Eastern Europe, both to serve the local community and also to export to the rest of Europe,” he told a meeting of Liberal Party businessmen. “And we’re taking it very seriously.” Such a move was more appealing than investing in Australia, Mr Elliott said.

Bond Corp Holdings bought control of Hungary’s largest brewer, the Kobanya Brewery, in May. The Russian President, Mikhail Gorbachevs, move to allow the Eastern Bloc to look after itself had allowed those countries to “take the bit between their teeth,” Mr Elliott said. “We’re in there having a look at every one of those countries, they’re good beer consumers anyway, but also it’s a great time to be able to get in there and put your good technology in and start to

fill the market which will grow for many, many years,” he said. While countries overseas were encouraging investment there was little incentive for Elders to place its sAustlO billion to SIIB (SNZI2.BB to $14B) available funds in Australia, he said. Because of Trade Practices Commission restrictions, Elders was recently forced to sell two abattoirs in Queensland after buying Australian Meat Holdings. This demonstrated the lack of investment incentive in Australia, Mr Elliott said.