Molson Inc. has announced that it will close its Regina, Saskatchewan brewery as part of a cost-cutting scheme, which will save the company C$150 million (US$100m) over a period of three years.

"Our review of our capacity utilisation in our western Canadian brewery network has unfortunately led us to make this difficult decision," said
Daniel J. O'Neill, Molson president and CEO.

The Regina brewery, which employs 85 people will shut in March 2002.
The Montreal based company said it will be "offering alternative opportunities to half of its employees" and supplying the rest with career counselling and retraining.

Molson also outlined its year-end fiscal results, reporting a 2.6% sales volume increase due mostly to the addition of the Brazilian beer brand Bavaria. However, Canadian sales of Molson decreased by 1% compared to last year.