Nigeria Growth

Montgomery Ventures, a major shareholder in the Nigerian glass container maker West African Glass Industries, is investing in beer breweries in the same country. It is understood to have agreed to buy a 55% stake in Premier Breweries, and already has shares in International Beer & Beverages; Sona Breweries; Life Breweries; and Benue Breweries. Also in Nigeria, Frigoglass' bottle making operations stopped for two months to allow substantial investment in their production lines. The factories are the former Guinea Glass and Delta Glass Operations. Despite the stoppage, Frigoglass says its businesses in Nigeria made a profit of 9M Euros in 2002.