E-Malt.com News article: 3355

Norway: Danish brewing force, Carlsberg A/S, announced on 29 September 2004 that it sells brewery site and buildings in Norway. As of 30 September this year, Carlsberg is selling the Tou brewery site of 120,000 m2 as well as the buildings of 30,000 m2 in Stavanger to the real estate investor Rune Runestad at a price of NOK 115 million. At the same time, Ringnes has entered into a 10-year agreement to rent storage, parking and office facilities equivalent to a total of 10,600 m2. Last year, the Board of Directors of Ringnes decided to phase out production at the Tou brewery due to excess production capacity, caused by tough competition in the market and increasing border trade, and in order to release capital tied up in fixed assets.

29 September, 2004