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Wine glut forces McGuigan writedown
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Newspaper Article
Wine glut forces McGuigan writedown
2006
Overview
Speaking to the Australia-Israel Chamber of Commerce in Adelaide yesterday, Mr [Tony Keys] said Australian wine producers should look beyond Britain for export sales because the wine boom of the 1990s was a one-off \"phenomenon\". Australia's second-largest listed wine producer, which relies on bulk wine sales for more than half of its business, decided to conduct the review as it had been affected as \"already low\" bulk wine prices fell a further 30 to 40 a litre in the past six months, Mr [Dane Hudson] said. Mr Keys told the Adelaide conference the top 20 Australian wine companies, which make 80 per cent of the nation's wine, should not need to rely on organisations such as the Australian Wine and Brandy Corporation or the Winemakers Federation of Australia.
Publisher
News Limited
Subject
