The company said it expected the new subsidiary to report sales of more than $25 million.

These new subsidiaries included a bank, two insurance companies and a building society.

On November 30, 2010 the company created two new subsidiaries when it combined five former ones.

But in 1985, the company found itself in legal trouble through its new subsidiary.

Ltd. is established as a new subsidiary in China.

The new subsidiary maintained its autonomy in terms of design and marketing.

They took out leases on two more, through a new subsidiary, to make the whole lot an attractive sale package.

"The Government has no intention of using its 51 percent control to impose a bureaucratic administration in the new subsidiaries," he said.

It may spin these businesses off into new subsidiaries over the next five years, he said.

So far he has resisted listing the wines of the new American subsidiaries.