Molson Coors to close Tennessee plant
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Manufacturing News, Source : The Manufacturer US
Published : 14 Mar 2005 21:19
Molson Coors Brewing Company has announced plans to close its brewery in Memphis, TN, in early 2007.
Molson Coors Brewing Company has announced plans to close its brewery in Memphis, TN, in early 2007.
The closure is among the company’s initiatives to achieve $175 million in cost savings, outlined when the $3.4 billion Molson Coors merger was announced in July 2004.
Plans for shifting production from Memphis to other facilities are being finalized. Cost savings are anticipated to be in the range of $32 to $35 million annually when the closure is complete in early 2007.
“I thank the Memphis community and its leaders for their support of our company over the last 15 years,” said Leo Kiely, chief executive officer of Molson Coors. “Most important, I thank our employees in Memphis for their dedication and hard work. The beer business today is incredibly competitive and, unfortunately, tough decisions like this one must be made to compete and grow.”
The Molson Coors Memphis brewery employs approximately 410 people, and has a brewing capacity of approximately three million barrels per year. It brews Coors Light for export, as well as Zima XXX, Blue Moon and Keystone Light beers.
Molson Coors is the fifth-largest brewer in the world, the third-largest in the US, the second-largest in the UK, and the leading brewer in Canada.
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