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Czech Ag Minister Says Budvar Is Not for Sale

Thu, 03/20/2014 - 12:48pm

PRAGUE (AP) — The new Czech agriculture minister says he has no plans to sell the Czech state-owned brewer Budvar.

Budejovicky Budvar NP has been fighting with beer giant Anheuser-Busch for over a century over use of the "Budweiser" brand.

In an interview with the Associated Press, Marian Jurecka says he can see no reason to consider Budvar's sale. Jurecka is formally in charge of the company.

Jurecka says Budvar has remained profitable despite the recent economic downturn, adding the trademark dispute with Anheuser-Busch was another reason to keep it in the state hands.

After record output and exports last year, Jurecka says Budvar will boost its production capacity by 200,000 hectoliters to meet growing demand.

Jurecka said Thursday that Budvar's net profit reached 320 million koruna ($16 million) in 2013.

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