Post date: 08/25/2016 - 16:39
AB InBev Company Quilmes Pledges USD 1.75 Bln. Investment in ArgentinaCerveceria y Malteria Quilmes, part of AB InBev group, has announced that it will be investing upwards of ARS 26 billion (USD 1.75 billion) in Argentina through 2020.
Cerveceria y Malteria Quilmes, part of AB InBev group, has announced that it will be investing upwards of ARS 26 billion (USD 1.75 billion) in Argentina through 2020.
According to a communiqué from the office of Argentina’s president, who was present at the announcement, the investments will focus on modernizing and expanding both alcohol and soft drink plants. The Acheral brewery in Tucuman will see its production double thanks to an investment of ARS 650 million (USD 43.8 million), and the Quilmes and Zarate plants in the province of Buenos Aires will also be expanded, among other improvements.
The company also touted its commitment to locally produced and fully recyclable glass bottles, a priority in which it will be investing over ARS 7.3 billion (USD 492 million).
Economic difficulties have led to weak consumption in Argentina in recent quarters; though AB InBev does not separate out the company specifically, it is said to have contributed to a high single digit fall in beer volume sales in southern Latin America in Q2. However, AB InBev saw volume growth in Argentina over the whole of FY15, which it credited to growth in Stella Artois and Corona, as well as a new malt product known as MixxTail.