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MEXICO: FEMSA sees beer volumes growth in 08 - report

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Fomento Economico Mexicano (FEMSA) has said it expects its domestic beer volumes to expand at a greater rate than general economic growth forecasts for next year, according to reports.

In an interview yesterday (8 November) Femsa's beer division CEO Jorge Luis Ramos, told Reuters that he was full of "optimism" for the company for next year, due to a tax reform giving the country the foundations to develop further growth.

Ramos reportedly told the news service: "We are confident that next year the GDP will grow above this year's level and that we will grow, like we have in recent years, above the GDP. We believe that GDP will expand between 3.6% and 3.7 %."

The brewing and soft drinks group said yesterday that it is looking to invest US$275m in a brewery and US$117m for a glass bottle facility in the northern state of Chihuahua in the country.


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