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Antigua: New brewery will be locally owned

Antiguans and Barbudans will, if all goes according to plan, have significant stake in BREWTECH Antigua Limited which is expected to return to the country and start operations next year.
Jobst Meier Zu Biesen, managing director of BREWTECH Antigua Limited, yesterday told OBSERVER media the aim is for the brewery to be owned primarily by Antiguans.

“It is an Antiguan company and our aim is to have majority Antiguan shareholders so that it could be called truly Antiguan. One reason is for marketing purposes and secondly it is about the benefit of the country. If it is an Antiguan country the dividends plus everything else stays in the country,” Biesen said.

He added that if the company was owned fully by a foreign investor then all the profits and other benefits would be for the investor himself. However, he stated that, the management of the brewery will be based entirely on the shareholder status.

The Germany-based brewer, will assume responsibility for the setting up and management of the new brewery plant at Crabbs Peninsula in the interim stage. He said that all the engineering has been taken care of and he will also be responsible for setting up the organisation.

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