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Drinks giant Diageo unveils GBP1.0bn Scotch whisky investment
LONDON, UK: Drinks maker Diageo on Wednesday, 6 June 2012, launched plans to invest £1.0 billion (US$1.5 billion, 1.2 billion euros) in Scotch whisky production in a move that will create hundreds of jobs.
Diageo, which produces Scotch brands Bells, J&B and Johnnie Walker among others, said in a statement that it would build a new distillery and expand a number of its existing 28 distilleries. The company will also create new warehouse space under the plans.
"This is a pivotal moment in the development of the Scotch whisky category for Diageo," said chief executive Paul Walsh.
"Over recent years our brands have achieved remarkable, sustained global growth. Scotch whisky is Scotland's most celebrated manufactured export, led by brands like Johnnie Walker, resonating with consumers from Boston to Beijing."
"We expect that success to continue, particularly in the high growth markets around the world, which is why we are announcing this major investment in Scotch whisky production... to seize that opportunity for global growth."
Diageo is the world's biggest producer of alcoholic drinks. Its brands also include Baileys liqueur, Captain Morgan rum, Guinness stout, Smirnoff vodka and Tanqueray gin.
The London-listed giant employs 20,000 people in 80 countries around the world, of which 4,000 are in Scotland.
Source: AFP
Source: I-Net Bridge
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