The Dutch brewer Heineken is looking at closing some of its breweries and selling off some brands, according to comments by CEO Thony Rhuys published today.

The news agency AFX reported that Rhuys was looking to cut costs by at least another €50m by the end of 2007.

Speaking during a news conference on full-year results, Rhuys said that "closure is not the only way to reduce costs" and there would be a "mixed bag of many initiatives."

Any reduction of the company's portfolio would be limited too. AFX reported CFO Rene Hooft Graafland saying that the exercise would not be "a Unilever-type exercise" which saw the Anglo-Dutch consumer giant cut some three-quarters of its brands.