MANILA (Reuters) – Philippines conglomerate San Miguel Corp (SMC.PS) is planning to invest at least $1 billion (£764.18 million) in the next two years to build 10 breweries in and outside the country, senior company executives said yesterday.
Banking on strong consumer demand in one of Asia’s fastest growing economies, the maker of San Miguel Pale Pilsen and Red Horse beer is setting up eight breweries around the country, San Miguel President Ramon Ang told Reuters in an interview.
San Miguel is also looking to open its first production facility in the United States and build a second plant in Vietnam, Mr Ang said. The conglomerate is Philippines’ biggest brewer and its brewery business is partly owned by Japan’s Kirin Holdings Co Ltd (2503.T).
