Systembolaget to Open New Subsidiary

Systembolaget, Sweden’s alcohol monopoly retail chain will open a new subsidiary next week to help reduce consumption in this Scandinavian nation.

Some US $14 million, taken from profits, will be used over the next five years to achieve the goal.

There is still much secrecy surrounding the new company, but it is expected to be launched Tuesday by Systembolagets CEO Anitra Steen.

A spokesperson for the company said the idea for the new subsidiary came up because of the rise in consumption of alcoholic beverages in this country.