Molson to Shut Down Kaiser Plant In Brazil
Emerging Markets Economy, Jun 29, 2003
Canada's Molson Inc. will close a 75-year-old Kaiser brewery in Brazil and eliminate 140 jobs as part of integrating the South American country's second-largest brewer a year after purchasing it for $1.2 billion.
The closing of the Ribeirao Preto plant is part of a three-year plan designed to save 200 million Brazilian reals, or about $93.3 million (Canadian). Molson is attempting to eliminate overlap and overcapacity caused by the integration of Kaiser and Bravaria brands as Molson challenges market-share leader Ambev. - (EMEconomy.com)
C 2003 All rights reserved. EMEconomy
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