| Fri 25 Aug 2006, 14:00 | | SABMiller plc announces $102 million investment in |
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SAB
SOSAB
SABMiller plc announces $102 million investment in Peru
SABMiller plc
JSEALPHA CODE: SAB
ISSUER CODE: SOSAB
ISIN CODE: GB0004835483
SABMiller plc announces $102 million investment in Peru
London and Johannesburg, 25 August 2006. SABMiller plc, one of the world"s
leading brewers, announces that its Peruvian subsidiary Backus and Johnston will
invest US$102 million in infrastructural projects in Peru. The investment,
which will be made by March 2007, will include the expansion of the brewhouse at
its Ate facility to the east of Lima; a new brewhouse at the brewery in Motupe
in northern Peru; and a significant upgrade of packaging capability across the
country. The investment will also include a further $12 million expenditure on
fridges, coolers and trade equipment to improve the accessibility of cold
product to all Peruvians.
In addition to the investment above, Backus and Johnston has also announced a
proposed merger with Cervesur, its majority owned affiliate and other affiliate
companies. This nil-premium transaction will serve to simplify and streamline
SABMiller"s operations in Peru into a more directly manageable and accountable
holding structure.
Commenting on the new investment, Robert Priday, the president of Backus and
Johnston, said:
"The investments will serve to extend the production capacity in the brewery
plants in Lima as well as interior of the country, which will comply with the
most modern technology in brewing, fermentation and packaging processes. The
investment will ensure that we can sustain and improve on the high quality of
beer we have become renowned for. It is also a reflection of our commitment and
confidence in our operation in the country. The steady improvement in the local
economy deserves to be rewarded with investments of this nature."
Ends
Notes to editors:
SABMiller
SABMiller plc is one of the world"s largest brewers with brewing interests or
distribution agreements in over 60 countries across five continents. The group"s
brands include premium international beers such as Miller Genuine Draft, Peroni
Nastro Azzurro and Pilsner Urquell, as well as an exceptional range of market
leading local brands. Outside the USA, SABMiller plc is also one of the largest
bottlers of Coca-Cola products in the world.
In the year ended 31 March 2006, the group reported US$15,307 million in
revenues and profit before tax of US$2,453 million. SABMiller plc is listed on
the London and Johannesburg stock exchanges.
Backus and Johnston
Backus is the most important brewing company in Peru. Its principal brands are:
Cristal, Pilsen Callao and Cusquena. It has production plants around the
country.
This announcement can be found on www.sabmiller.com
High resolution brand images are available for the media to view and download
free of charge from www.vismedia.co.uk.
Enquiries:
SABMiller plc Tel: +44 20 7659 0100
Sue Clark Director of Corporate Tel: +44 20 7659 0184
Affairs
Gary Leibowitz Vice President, Investor Tel: +44 20 7659 0174
Relations
James Crampton Media Relations Manager Tel: +44 7795 208158
Fernando Hilbck Backus and Johnston Tel 511 - 4112100
This announcement does not constitute an offer to sell or issue or the
solicitation of an offer to buy or acquire securities of SABMiller plc (the
"Company") or any of its affiliates in any jurisdiction or an inducement to
enter into investment activity.
This document includes "forward-looking statements". These statements may
contain the words "anticipate", "believe", "intend", "estimate", "expect" and
words of similar meaning. All statements other than statements of historical
facts included in this announcement, including, without limitation, those
regarding the Company"s financial position, business strategy, plans and
objectives of management for future operations (including development plans and
objectives relating to the Company"s products and services) are forward-looking
statements. These forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause the actual results,
performance or achievements of the Company to be materially different from
future results, performance or achievements expressed or implied by such forward
looking statements. These forward-looking statements are based on numerous
assumptions regarding the Company"s present and future business strategies and
the environment in which the Company will operate in the future. These forward-
looking statements speak only as at the date of this announcement. The Company
expressly disclaims any obligation or undertaking to disseminate any updates or
revisions to any forward-looking statements contained in this announcement to
reflect any change in the Company"s expectations with regard thereto or any
change in events, conditions or circumstances on which any such statement is
based.
Any information contained in this announcement on the price at which the
Company"s securities have been bought or sold in the past, or on the yield on
such securities, should not be relied upon as a guide to future performance.
Date: 25/08/2006 02:00:06 PM Produced by the JSE SENS Department
