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Belgian brewer AB InBev has said it is nearing completion of its new $250 million Sagamu brewery and expects it to go into operation by mid-year. The announcement was made by Ricardo Tadeu, AB InBev’s head of operation for Africa on Thursday in South Africa. “For the long term, in five to 10 years, Africa will be an important growth driver for the global company,” he said. Tadeu would not reveal the plant’s production capacity, but said that the company was upbeat about growth prospects in Nigeria and elsewhere on the continent. “We have a clear strategy to keep a good level of growth in Africa based on developing our brands in different segments of the market,” Tadeu said.Powered by WPeMatico

AB InBev reported full year surge in profits for the 2017 financial, helped by global premiumization and revenue management initiatives. Profits soared to $8 billion from $4.9bn in 2016. The beer giant said that the combined revenues of its three global brands – Budweiser, Stella Artois and Corona grew 9.8%. Total beer volumes increased by 0.2%. The company notes that the business integration with former SABMiller resulted in savings of $1.3bn in 2017, raising cumulative savings so far to $2.1bn of the expected $3.2bn it hopes to capture through synergies. Revenue for the full year 2017 rose 5.1% to $56.4bn from $45.5bn in the previous year. Commenting on the results, AB InBev said that “2017 was a transformative year for our company. We are well on our way to achieving our most successful

Dutch brewer Heineken N.V. announced on Wednesday the opening of a new brewery in Mexico. Located in Meoqui, Chihuahua State, it will be the company’s seventh brewery in the country. At a cost of $500 million, the plant is said to be the biggest Greenfield brewery in Heineken’s history, with a production capacity of 6 million hectoliters per year and will produce leading brands such as Tecate, Dos Equis and the Heineken brand for the Mexican market and for export. According to the firm, the new brewery is constructed following circular economic principles, with focus on renewable energy and efficient water usage. For instance, the windows in the brewery contain photovoltaic cells that will create approximately 12% of the electricity for the facility with the remainder coming from wind powe