Constellation to Reduce Brewery Production Activities in Mexico
April 08 2020 - 09:29AM
Dow Jones News
By Michael Dabaie
Constellation Brands Inc. said it is taking additional steps to
reduce its brewery production activities in Mexico.
The beverage company said the move is consistent with actions
taken by other brewers in Mexico and will help ensure the company's
ability to restore operations once Mexico's federal government
lifts restrictions placed upon the business community in response
to the Covid-19 pandemic.
The company said that over the past several weeks, it has
shifted resources to accelerate production of high-volume products
and built substantial product supply across its warehouse and
distribution network in the U.S.
The company said it is confident in its ability to continue
meeting the needs of U.S. consumers and doesn't expect any
near-term service disruptions to retailers or consumers.
Shares were up 3% premarket, to $154.
"We are taking these additional steps after gaining more clarity
related to the Mexican government's response to this health and
economic crisis. These most recent actions are in addition to
aggressive steps the company had already implemented to keep our
team members and visitors to our facilities safe," said Chief
Executive Bill Newlands.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
April 08, 2020 09:14 ET (13:14 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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