Top Stories
Heineken to invest $300 million in Brazil to expand premium beer portfolio
Global Banking & Finance Review®
Company
SAO PAULO (Reuters) – Heineken NV, the world’s second-largest brewer, said on Thursday it will invest 1.5 billion reais ($300.8 million) in Brazil as part of an expansion plan for its premium and single malt beer portfolios.
SAO PAULO (Reuters) – Heineken NV, the world’s second-largest brewer, said on Thursday it will invest 1.5 billion reais ($300.8 million) in Brazil as part of an expansion plan for its premium and single malt beer portfolios.
Brazilian beer drinkers are among the world’s biggest consumers of Heineken, according to the company.
The planned investment aims to boost the brewer’s production capacity for its Amstel, Devassa and namesake Heineken brands, spread across two plants in northeast Brazil, the company said in a statement.
Heineken said spending on its Igarassu plant will triple its capacity for making Amstel and Devassa, while also increasing its returnable packaging lines by 45%.
The company’s Alagoinhas brewery is seen expanding its capacity to produce Heineken by 60% with the new investment.
The spending plan will also help make water use at the Igarassu brewery more efficient, including a goal to reduce water consumption there by 30% over the next three years, the company said.
($1 = 4.9864 reais)
(Reporting by Paula Arend Laier; Writing by Carolina Pulice; Editing by David Alire Garcia and Bill Berkrot)
Investment refers to the allocation of resources, usually money, into an asset or project with the expectation of generating a profit or income over time.
A portfolio is a collection of financial assets such as stocks, bonds, and other investments held by an individual or institution.
Sustainability in business refers to the practice of conducting operations in a way that is environmentally friendly, socially responsible, and economically viable for the long term.
Explore more articles in the Top Stories category
