Mexico: Modelo expects a 4% rise in 2007 Mexico sales volume
Top Mexican brewer Modelo, the maker of the popular Corona beer, expects a 4 percent sales volume rise in Mexico and two-digit growth in export volume this year, according to Reuters February 15.
"We have many projects in the export market," the chairman and chief executive, Carlos Fernandez, told reporters. "They will certainly give us an important boost in exports."
Exports of Modelo's (GMODELOC.MX: Quote, Profile , Research) beer, mainly to the United States, are currently growing about three times as fast as national consumption.
Modelo is half-owned by U.S. brewer Anheuser-Busch Cos. Inc., the maker of Budweiser beer.
The company announced in November plans to build a $520 million brewery in the northern state of Coahuila to meet U.S. booming demand.
The brewery will be built at Piedras Negras, across the border from the town of Eagle Pass in Texas. It will make Corona, Corona Light and Modelo Especial beers, largely for export to the United States.
The new brewery will be completed in early 2010.
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