Heineken's USB to invest EUR 19mn in Serbia in 2010.

By bne IntelliNews May 5, 2010
United Serbian Breweries (USB), a member of Heineken Group, announced it would invest EUR 19mn in its operations in Serbia this year despite the drop in local sales, driven by lower consumption and higher excise taxes. USB had invested EUR 15mn in the local market last year, the company's GM Francois Xavier Mahot said, adding that EUR 50mn will be invested in Serbia in the first three years of USB's operation. USB was founded in 2008, when Serbian units of Heineken and Efes Breweries International (EBI) merged. USB has breweries in Novi Sad, Zajecar and Pancevo. Apatinska Pivara, now majority owned by CVC Capital Partners, and Carlsberg Srbija are the two biggest brewers in the country in terms of market share.

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