Brazil: Heineken may close two breweries in Brazil - report

Heineken NV is considering closing two factories in northeastern Brazil, a senior executive said in an interview with newspaper Valor Economico.

Vice President Nelcina Tropardi told the paper the company is considering the closure of two factories in the state of Pernambuco because “the operation in this state has accumulated a loss of 90 million reais ($23.4 million) over the last year.”

The paper says Heineken attributes the losses to court decisions mandating that the Netherlands-based brewer sell beer to a local distributor below market prices.

Heineken did not immediately comment on the newspaper report.