Molson Coors sells old brewery for new site in Canada - just On Call
Molson Coors will build a new brewery in Vancouver, once it has sold its old one
Molson Coors is set to build a new brewery in Canada, in order to better meet the needs of a changing market.
Stewart Gendinning, the company's Canada CEO, told analysts on a call following the release of Molson Coors' Q3 results yesterday that there was "good news coming out of Vancouver". He said the company's old brewery in the city, which "was going to consume a bunch of capital", has now been lined up for sale, with a new facility set to be constructed in the city. "Broadly, the sale of that property will fund construction of a new brewery," he added.
Although Glendinning did not specify whether the company's capacity in the country would increase, he said the new site would "provide the best operating efficiencies for our company".
The move would also give Molson Coors more flexible brewing options.
"If you look at what's going on in the market today, it's important to be able to provide a wide range of brew sizes to accommodate the smaller brew stuff. I think we'll gain a lot of from that. But, you can rest assured that right-sizing our capacity is a key part of our plan."
Glendinning said the company is also assessing its production operations in Montreal.
"We have a similar study underway to understand whether we should invest in the current brewery or to invest in new build," he said, adding that he does not expect to have a conclusion until early next year.
"Overall, I think we've got a very strong plan for reshaping the supply chain in Canada," he concluded.
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