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Cognac interests investors
9 octobre 2002
A photocopy of a memo about a BNP-Paribas financial analysis which is being circulated in the Cognac region considers that the profitability of the sector remains structurally high and that the sector is attractive for investors, notably for the leading brands Hennessy, Remy-Martin, Martell and Courvoisier. It suggests that the redundancy plan which is part of the Martell restructuring will be greater than expected (-200 jobs). Things should become clearer at the works committee meeting this week.

More good news for cognac
9 octobre 2002
The Champaco Cooperative which brings together the wine growers who supply Remy-Martin is benefiting from the improved state of the Remy-Cointreau group : purchases will increase this year by 6 % to 29,000 hl of pure alcohol compared to 27,300 in 2001. The prices have not risen but the payment period has been improved.

Grape harvest looking good
9 octobre 2002
Thanks to the fine weather in the fall, the grapes have ripened exceptionally well. The yield should be from 120 to 130 hl/ha according to estimates from the cognac research station just as the harvest is starting in the cognac area. The acidity level is high, the pH is low and the sugar content (9 %) is satisfactory for these wines which provide the basis of cognac.

Redundancies at Château-Paulet
9 octobre 2002
The 28 employees of Château Paulet, a pineau and cognac broker (subsidiary of Renault-Cointreau) based in Châteaubernard, have been made redundant for economic reasons. With net results in 2001 of -797,000 euros, Château Paulet could not continue : the business has been relocated and eleven employees have been regraded, according to management.

Hennessy still on the offensive
25 septembre 2002
Hennessy may well take advantage of Martell’s difficult period, which has seen it reduce by half its purchases for 2001 and 2002, to confirm its position as leading buyer and steal some of its best suppliers, unless the new team put in place by Pernod-Ricard chooses to keep them by maintaining its purchase orders, according to a study by the Sud-Ouest newspaper.

LVMH weathers post 9/11
18 septembre 2002
LVMH (Hennessy cognac) has reported a 19% increase in operating income at 840 million euros in the first quarter for a turnover which has risen by 2 % to 5.81 billion, thus benefiting from the measures put in place following 9/11. But the CEO, Bernard Arnault, is worried that a fresh conflict in the Gulf may once again upset duty-free sales.

A vodka plant in cognac country !
18 septembre 2002
H. Mounier is currently constructing a 6,500 square meter plant in Gensac-la-Pallue which will house 3 bottling lines for ... Grey Goose vodka and two warehouses. The Grey Goose brand, which was created five years ago by H. Mounier at the request of the New York distribution company Sidney Frank Importing, is a top quality vodka and leader on the US market. A dozen jobs will be created when the plant is opened.

Opening of the Institut de la vigne (ITV)
24 juillet 2002
The Institut technique de la vigne et du vin (Vine and wine technical institute) will open its doors in September near the Université des eaux-de-vie in Segonzac. The ITV will lead studies into vines as part of its diversification. At first it will employ an engineer and a technician before increasing its staff numbers from July 2003.

Bisquit merges with Martell
10 juillet 2002
The Bisquit cognac house is merging with Martell which now handles the administrative side of sales by the Rouillac-based brand. The companies are both subsidiaries of the Pernod-Ricard group.

Camus modernizes
3 juillet 2002
The Camus company in Cognac is reaching the end of its modernization plan which was started in 1998 (new machines and reorganization of buildings) and is preparing ISO 9002 certification for its new facilities. Camus sells 20,000 cases each year.

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