Golden Guinea Breweries Dispels Rumours On The Commencement Of Full Operations - |Ads4naira Blog|

Golden Guinea Breweries Dispels Rumours On The Commencement Of Full Operations

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Golden Guinea Breweries Dispels Rumours On The Commencement Of Full Operations

Golden Guinea Breweries Plc has issued a statement dispelling the rumour on the commencement of full operations at its Umuahia plant.

According to the statement issued on the Nigerian Stock Exchange portal,

” The attention of Golden Guinea Breweries Plc has been drawn several unauthorised recent online publications on the commencement of full operations of the company”.

“The company stands on the disclosure and publication issued to the public via the issuer’s portal on resuming operations before the end of the second quarter of 2019”.

“We have not resumed operations and, therefore, any contrary and mischievous online publication is hereby disclaimed”.

The statement was signed by the Company Secretary/Legal Adviser, Mr Udo Ogaranya.

Golden Guinea originally commenced business in 1963 and was named Independence Brewery Limited. Annual capacity was 1 million gallons. The location of Umuahia was chosen due to the importance of water which led to the selection of a site in Umuahia, the town of the Regional Premier, Dr Michael Okpara.

The company introduced Eagle Stout to the market in 1967, however, production was cut short between 1967 and 1970 due to the Nigerian Civil War. Production restarted in 1971 following the end of the war. The company also changed its name to Golden Guinea Breweries. In 1975, the company was revamped and an extension was built by the German firm Coutinho Caro which later participated in an equity offering issued by the firm.

Production at the brewery was again cut short by a fire incident in 2003 but recent attempts have been made to bring the brewery back to life. The company holds franchise rights from German-based Holsten Breweries to produce and market Golden Guinea Lager, Bergedorf Premium Lager and Bergedorf Malta in Nigeria.

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