March 9, 2020 / 11:23 AM / 19 days ago

Brazil's Ambev to invest $430 mln in new beer plants

SAO PAULO, March 9 (Reuters) - Ambev SA plans to invest 2 billion reais ($432 million) opening new plants in Brazil, where it faces tougher competition as Heineken NV has expanded aggressively.

The company said in a statement released on Sunday that it will open a new brewing plant in Brazil’s northern region, a malting factory in the southeast, a can producing unit and additional premium beer production lines.

Ambev said the investment represented part of its goal to grow its pure malt portfolio. ($1 = 4.6269 reais) (Reporting by Carolina Mandl; Editing by Alexander Smith)

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