Caribbean Regional Review Western Hemisphere The agreement also relates to the acquisition of an indi rect 8% interest in COCECA, the only brewery in Nicara- gua.This brewery also has a g8% market share, with its Victoria andTona brands. In Panama, Heineken and FIFCOacquired Cervecerias Bard-Panama, one of the two Panamanian breweries. Heineken has a 74.5% interest in Baru, which has a 25% market share with its Soberana, Panama and other brands. With visitor numbers in the Caribbean still showing no clear sign of recovery following the tragic events of September 2001, both the purchasing power of the local population and the beer market were under pressure. Sales of Heineken beer increased a little and the result improved slightly. In the Bahamas, Commonwealth Brewery's total sales and results fell short of the 2001 level, but sales of Heineken beer were higher. The development of Windward and Leeward Brewery onSt. Lucia was held back by the weak economy and the after-effects of Hurricane Lilly, which damaged the local economy and that of the neighbouring islands. The banana industry and tourism were particularly badly affected. These factors depressed our beer exports from St. Lucia and the brewery's result. Surinaamse Brouwerij in Surinam, trading in a high- inflation economy, reported reduced sales and a lower result. On Curapao, Antilliaanse Brouwerij's sales and result were held back by increasing competition. Sales of Heineken beer were higher and exports of Amstel Bright from Curagao to the Netherlands recorded steady growth. The economy ofMartinique had to cope with a reduced inflow of tourists and depressed banana prices on the world market. In a contracting beer market, Brasserie Lorraine's sales were down but its result held firm. Sales of imported Heineken beer increased. On Trinidad, the licensing agreement for the produc tion of Heineken beer was terminated at the end of 2002. The market will henceforth be supplied with imported Heineken. Sales of Heineken beer brewed under licence on Jamaica failed to rise above the 2001 level, as a result of natural disasters and unrest surrounding the elections. Sales of imported Heineken beer on Puerto Rico were down, reflecting higher import duties. REPORT OF THE EXECUTIVE BOARD 31

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2002 | | pagina 34