Kirin, China Resources Enterprise form non-alcohol beverage joint venture

Kirin Holdings Company and China Resources Enterprise have formed a joint venture called China Resources Kirin Beverages (Greater China) Company, with the companies holding 40% and 60% shares respectively. Kirin's stake in its subsidiaries in China - Shanghai JinJiang Kirin Beverage & Food, Kirin Beverage (Shanghai), Shanghai Kirin Beverage & Food, Beijing Flying Kirin Beverage, will be soon transferred to the new joint venture. The new joint venture is planned to speed up its foray into new product categories and markets throughout China, aiming to become a leading player in this rapidly growing market.