China’s Dynasty May Purchase New, Old World Vineyards
China’s Dynasty May Purchase New, Old World Vineyards
May 26, 2010 6
(Bloomberg) -- Dynasty Fine Wines Group Ltd., part- owned by France’s second-biggest liquor company, may spend almost $150 million to boost capacity by 43 percent to meet rising demand in China.The Tianjin, China-based company may buy vineyards in Australia, New Zealand, Chile or France and has 1 billion yuan ($146 million) in cash, Chairman Bai Zhisheng said in an interview yesterday in Hong Kong. Dynasty wants to raise production to 100,000 metric tons annually within three years, from 70,000 metric tons now, he said.
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