Tag Archives: Golden Guinea Breweries Plc

Golden Guinea releases results for year ended March 2019

Golden Guinea Breweries Plc, on Tuesday reported on its full year financials for periods Apr 2018 – Mar 2019.

The Umuahia, Abia State brewer, which has not been active for 16 years following a fire outbreak at its facility in 2003 said in its report that it has not resumed its principal activities of brewing during the year under review as a result of the ongoing reactivation activities.

The company further said that “Positive efforts and active steps are being taken to resuscitate the company, and major milestones have been achieved as at the time these financial statements were approved in June 2019,” the statement read.

Golden Guinea dispels rumours of commencement of full operation

Golden Guinea Breweries Plc on Tuesday issued a statement to dispel rumours it has resumed full operation.

In a statement released to the Nigerian Stock Exchange (NSE), the Umuahia, Abia State-based brewer said its attention has been drawn to several unauthorized recent online publications on commencement of full operations by the company.

Golden Guinea Breweries reopens for business

Golden Guinea Breweries Plc, the Umuahia, Abia State-based company which has been closed for 17 years is finally back to business.

According to a statement by the Abia State Commissioner for Information, John Okiyi Kalu, he drank his first glass of Golden Guinea beer on Friday after more than 17 years.

Golden Guinea Breweries nears completion of factory overhaul

Golden Guinea Breweries Plc, the Umuahia-based brewer which has not been active for over 16 years following a fire outbreak at its facilities in 2003 leading to closure of the business said it is nearing completion of retooling work that will enable it restart production.

In a statement released to the Nigerian Stock Exchange (NSE) on Thursday, the once brewer of Eagle stout, Bergedorf lager and Golden Guinea lager said it is optimistic of returning to full operations on or before the second quarter of 2019.

Golden Guinea releases year end results for 2018

Golden Guinea Breweries Plc, earlier on Thursday released its full year statement of affairs for the year ending 31 March 2018.

The Umuahia-based brewer which has not been active for 15 years following a fire outbreak at its facility in 2003 said in its report that it has not resumed its principal activities of brewing during the year under review as a result of the ongoing reactivation activities.

Golden Guinea drags Pabod Breweries to court over alleged trademark infringement

Golden Guinea Breweries, the Umuahia, Abia State-based brewer on the cusp of making a comeback to the nation’s beer market has filed a lawsuit at a Federal High Court against Pabod Breweries Limited, a subsidiary of AB InBev.

The suit seeks N10bn general damages from Pabod for alleged infringement of Golden Guinea’s trademark for the production of Eagle Stout.

Golden Guinea Breweries set to re-enter beer market

Golden Guinea Breweries has announced it would make its re-entry into the nation’s beer market next month. According to a report by BusinessDay, the Umuahia-based brewer is nearing the completion of a major overhaul and upgrade of its production facilities following a fire outbreak in 2003 that led to the closure of the brewing company.

The company said its new equipment has an installed capacity of 48,000 bottles per hour, which represents 1.15 million bottles per day, twice the installed capacity of the old equipment which produced 24,000 bottles per hour and more than double what its competitors at Nigerian Breweries’ Ama, Enugu plant and International Breweries Onitsha brewery produces.

When is Golden Guinea Breweries resuming production?

Umuahia-based Golden Guinea whose doors have been shut for nearly 16 years is yet to resume production as was expected in 2016.

The troubles of the once pride of the Eastern States goes back to 2003 when fire broke out at the facility destroying equipment including boilers. But even before then, there had been allegations of mismanagement, fraud and insolvency by the management. Successive state governments made efforts to resuscitate the once pride of Umuahia. The previous administration of Governor T.A. Orji set up a committee to look into how to bring back the brewery to life. Work to revamp the facility started in his administration.

Golden Guinea Breweries set to reopen soon

Umuahia-based Golden Guinea Breweries Plc, which has been closed for 13 years is set to reopen for business in July, according to Abia State Governor’s office.

Golden Guinea Breweries, a once pride of the Eastern states and which founding dates back to 1960 by the then Premier of the defunct Eastern Region, Dr. Michael Okpara, is set to make a comeback. According to the state government, installation of modern equipment at the site is nearing completion.