MEXICO: Grupo Modelo to construct factory in US
Grupo Modelo intends to invest US$80m in a new factory in the US. The Latin AMericna press quoted a spokesman for the Mexican brewer saying yesterday that the Mexican brewer plans to build a malt-making factory in Idaho.
The facility, which has a capacity of 100,000 tonnes will reduce the amount of raw materials the company has had to import into the US for production.
Late last month, Modelo reported a 6.6% increase in net profit for the quarter, ahead of market expectations. Net profit for the company reached 1.110 billion pesos (US$100m), up from 1.041 billion pesos a year earlier.
The brewer operates seven plants in Mexico and exports five beer brands to around 150 countries.
Sectors: Beer & cider
- What Brexit means for drinks industry? - Analysis
- The post-Brexit winners and losers - Analysis
- What does Brexit mean for AB InBev's SAB deal?
- Is there a future for the global beer brand?
- Customisable drinks - The next consumer trend
- The UK Referendum - just-drinks Live Blog
- Ex-William Grant CEO Stella David re-joins Bacardi
- UK spirits producers braced for Brexit impact
- Aldi dealt alcohol sales blow in Australia
- Pernod Ricard gives Beefeater packaging revamp
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Spirits and Wine: Corporate Overview
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends