CHILE: Concha y Toro to continue capacity investment
Concha y Toro is looking to continue its vineyard acquisition programme in 2008, according to reports.
The Chilean wine producer has lined up around US$60m to invest in acquiring and developing vineyards in the country, with a view to increasing its capacity. The news comes on the back of a $64m spend by Concha y Toro last year on vineyard purchases.
Speaking to journalists in Santiago yesterday (24 April), company president Alfonso Larrain said: "The board has approved an investment of about $60m for 2008 for new lands, new microclimates and to continue improving the company's technology."
Concha y Toro will issue its first quarter results early next week.
The IWSR's Ecuador report has shown that 2007 saw a significant increase in consumption of still light wine....
Vina Concha y Toro has rescued its first half performance from a troublesome start, with healthy figures across the board in the second quarter of the year....
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