Constellation Brands to invest US$720 million in Mexico
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MEXICO — The U.S. company Constellation Brands announced that it plans to invest around US$750 million in Mexico during 2020.
During 2019, it allocated US$886 million to capital expenditures, including US$720 million allocated to the beer industry, mainly for expansions of the Nava brewery and a glass production plant in Coahuila; optimization and expansion in Obregon, Sonora, and construction in Mexicali, Baja California.
The company periodically reviews the capital expenditures program and modifies it to meet current commercial need and plans to spend between 800 and US$900 million for capital expenditures in fiscal year 2020.
In addition to the beer expansion projects in Mexico, the remaining capital expenditures consist of improvements to existing operating facilities and replacements of existing equipment and/or buildings.