War will not affect demand for beer, says Interbrew boss

Date: 20/03/03

By Peter Chapman

THE chief executive of Europe's biggest brewing group, Interbrew, said people will keep drinking beer, even if a war in Iraq drags down the world economy even further.

The Belgian-based company's American-born CEO John Brock told European Voice his company is likely to remain unscathed from the hammer blow felt by other parts of the leisure business - such as airlines and hotels.

"Our view from history - and the Gulf War - is that we are providing moments of pleasure for people and frankly they would want that no matter what is going on in the war.

"We have no business in the Middle East. The implicated areas for us are not really significant," said Brock, adding: "Our view is people will continue [to drink beer]."

Meanwhile, the Interbrew chief said he was not worried that the UK's stance on Iraq might encourage the public there to shun the single currency.

British entry into the eurozone would slash the costs faced by Interbrew, which has extensive interests in the UK. But Brock said: "What the UK does politically, they will have to sort out for themselves."

UK beer sales last year of the Stella Artois brand had been "tremendous", he added. Brock declined to comment about the European Commission's anti-trust investigations into the EU beer market.

The chief executive of Europe's biggest brewing group, Interbrew, said people will keep drinking beer, even if a war in Iraq drags down the world economy even further.