(This May 12 story has been corrected to say Anheuser-Busch plans to start a new facility, not a plant, in Columbus, Ohio, in paragraph 2) (Reuters) – Anheuser-Busch InBev said on Monday it would invest $300 million in its manufacturing operations in the United States this year amid a push for local production under President […]
Business
Budweiser-maker AB InBev to invest $300 million in US facilities (May 12)
Audio By Carbonatix
(This May 12 story has been corrected to say Anheuser-Busch plans to start a new facility, not a plant, in Columbus, Ohio, in paragraph 2)
(Reuters) – Anheuser-Busch InBev said on Monday it would invest $300 million in its manufacturing operations in the United States this year amid a push for local production under President Donald Trump.
The St. Louis, Missouri-based Anheuser-Busch, which said it invested nearly $2 billion over the last five years in 100 facilities across the country, also announced plans to start a new facility in Columbus, Ohio.
The brewer reported a rise in first-quarter profit last week, more than double the increase expected by analysts and boosting its profit margins despite a fall in sales volumes. It said it makes nearly all its domestic sales locally,
AB InBev had previously said it was boosting investments in key brands such as Budweiser and ramping up efforts to grow at-home consumption, as spending elsewhere – including in bars – remains pressured.
(Reporting by Neil J Kanatt in Bengaluru; Editing by Pooja Desai)