San Miguel confirms plan to build new Vietnam brewery
MANILA, Philippines — San Miguel Food and Beverage, Inc. confirmed Wednesday a report saying its beer division was planning to build a new brewery in Vietnam to meet the demand in Southeast Asia.
In a disclosure to the stock exchange, SMFB said San Miguel Brewery, Inc. was “conducting a study” to put up a brewery in Vietnam.
Quoting SMB Chairman Ramon Ang, BusinessWorld reported Wednesday that SMB was eyeing to spend about $70 million for the planned new brewery in Vietnam that, if implemented, should have a capacity of at least two million hectolitres.
Last year, conglomerate San Miguel Corp. said it was planning to shell out about $1 billion to build 10 additional breweries. Reuters reported that the company behind San Miguel Pale Pilsen and Red Horse is eyeing to establish more breweries, eight of which will be in the Philippines while the others will be opened in the US and Vietnam.
SMC was founded in 1890 as a single brewery in the Philippines. The company has since then transformed itself from a beverage, food and packaging business into a diversified conglomerate with interests in fuel and oil, energy, infrastructure and banking industries. — Ian Nicolas Cigaral
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