by Dave Porter
Laptop Battery According to the latest study the Beer industry has created 120,000 more jobs since 2001 and added $18 billion more to the economy, so drink up!If you would like to receive late breaking business news covered by AXcess News then you need to subscribe. By joining, you can stay ahead of the pack and receive the latest news in your email in-box first.
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Microsoft Feb 16, 2005 (AXcess News) Reno - A new study shows that 120,000 new jobs were created in the beer industry since 2001 which has boosted the economy by $18 billion. If only Greenspan had mentioned the study Wednesday when he addressed central bankers on the U.S. economy. Beer-related businesses contribute more than $162 billion annually to the U.S. economy, according to a study by the Beer Institute and the National Beer Wholesalers Association (NBWA).
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Laptop Computers According to figures in NBWA's latest study, the industry's economic impact includes nearly 1.8 million jobs paying more than $54 billion in wages as well as more than $30 billion in federal, state, and local taxes generated and paid, including consumption taxes."This study demonstrates that the beer industry is more than just those who make and distribute our products," said Jeff Becker, President of the Beer Institute. "We are an industry of farmers, can manufacturers, truck drivers, retailers, and many others. While the economic impact of the industry is significant, brewers and wholesalers are also committed to promoting the responsible consumption of their products and to improving local communities."
laptop computers is driving strong sales for notebook computers, according to the latest quarterly sales figures from the research firm IDC, which reported a 37% computer sales for the second quarter, compared with a year earlier. In the U.S., laptop sales grew 17.7%, while sales of desktop computers and servers fell 4%. The New York Times ( 10), CNET ( 10)
Laptop Computer While the Beer Institute's president Becker boasts on the industry's impact, major brewers are eyeing foreign markets for growth - not domestic opportunities.Advertisement
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Desktop Computer Recent moves by the world's major brewers have been into China and the consolidations taking place like the Molson and Coors' (NYSE: TAP) merger that was just completed, is most likely going to cut into Becker's organization's figures. Though in all fairness, the Beer Institute's study did not forecast growth.Friday, Molson Coors Brewing Co. announced that it was closing its Tennessee brewery, cutting 400 jobs in the process. The brewery is expected to close in late 2005. The Memphis plant, which has a brewing capacity of 3 million barrels a year, produces Coors Light for export, plus Zima XXX, Keystone Light and Blue Moon. It is one of 19 breweries owned by Molson Coors which employs about 15,000 people.
Notebooks The employees at the Memphis plant are Teamsters. Union representative, Nate Jackson, told the Associated Press that "company officials will meet with employees to talk about help that may be available."
Lenovo Though Becker's Institute paints a rosey picture economically for the beer industry, global consolidation of brewers and wineries is having just the opposite effect.
Hard Drive Australia's Foster Group Ltd., which is under pressure from shareholders to produce results after its acquisition binge, has been eyeing the U.S. market more as an opportunity to expand. The company made a play for Australia's Southcorp, Ltd. recently after buying a control block in the wine distributor with strong ties in the U.S.
Travelstar One of the biggest markets brewers are trying to crack into is China. The British based brewing giant SABMiller (OTC: SBMRF) announced in September that it purchased the Chinese brewing interests of Australian brewer Lion Nathan for $154 million.
Gateway In May, Anheuser-Busch (NYSE: BUD) announced that it was acquiring a 29% stake in Harbin Brewery Group Limited (HKSE 0249.HK), a leading brewer in China.Motley Fool's Chris Malone said in a story Monday that "the industry's real story is the consolidation wave sweeping the world and the effect it's having on industry leader Anheuser-Busch."
Laptop Parts As global consolidation continues, economies will dictate where manufacturing takes place. If SABMiller and Anheuser-Busch can dominate enough brewing capacity in China, most likely US breweries will be replaced with cheaper foreign look-a likes whose costs are far less to manufacture in China than in union-dominated US plants.AXcess News attempted to contact Becker and a Teamsters spokesperson. Both were unavailable for comment. We plan a follow-up story with both sides viewpoint of the U.S. brewery industry and its job outlook. Will it shrink or not?
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