LONDON--Diageo PLC (DGE.LN), a premium drinks business which
houses Johnnie Walker, JεB, Smirnoff, Captain Morgan and Jose
Cuervo among its brands, said Wednesday it plans to invest over
GBP1 billion in Scotch whisky production over the next five years
to meet growing global demand for its brands.
MAIN FACTS:
-A major new malt distillery will be built as part of the
investment, alongside a program of major expansion at a number of
Diageo's existing distilleries.
-Detailed plans will also be developed for a second new
distillery which will be built if global demand for Scotch is
sustained at expected levels.
-Company also plans to invest in substantial new warehousing
capacity to house the millions of additional liters of Scotch
whisky which the distillation investment will produce.
-Across Scotland the investment will create over a hundred new
Diageo jobs, largely high value jobs in rural areas of
Scotland.
-It is also expected the investment will create an average of
250 construction jobs for each year of the investment period and in
wider Scottish economy there will be a knock on effect which will
generate around 500 further jobs.
-Shares closed Friday at 1516.5 pence valuing the company at
GBP37.99 billion.
-Write to Ian Walker at ian.walker@dowjones.com