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South African Breweries has reached an agreement with the government to transport its stock of alcoholic and non-alcoholic beverages to warehouses.
The company previously said that there was a risk of losing 400 million bottles of beer in the current liquid inventory, approximately 130 million liters. This is because SAB’s warehouses in its seven breweries are now at full capacity and cannot absorb any more capacity.
If the product could not be moved, it would have to be destroyed, resulting in an estimated loss of R150 million for the company. This is because the transportation of alcoholic products is not allowed under current closing regulations.
To overcome the problem, SAB said in a statement that it had reached an agreement with the government that would allow it to transport its inventory over the course of the next few weeks.
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This would also avoid losses in the consumption tax for the government of R500 million.
“SAB would like to extend its gratitude to the government. This move during these difficult times is a clear indication that we can and must collaborate on solutions that help protect the livelihoods of the more than 250,000 South Africans in SAB’s broad value chain, “the company said.
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