Highlights:
- Brick Brewing is investing $3.5M to upgrade the can line at its Kitchener facility, which will double canning capacity to 400,000 hectoliters.
- Investment will pave the way for continued growth of the can business and improved competitiveness
- Project will deliver an improved environmental footprint with 15% reduction in natural gas usage, 25% reduction in water usage and 25% reduction in effluent discharge compared to current equipment on a per hectoliter basis.
KITCHENER, Ontario, Jan. 10, 2018 (GLOBE NEWSWIRE) -- Brick Brewing Co. Limited (“Brick” or the “Company”) (TSX:BRB), Ontario’s largest Canadian-owned brewery, today announced plans to upgrade can line capacity at its Kitchener brewery. The $3.5M project will install a new can filler and pasteurizer and will bring annual canning capacity to approximately four hundred thousand hectoliters (hl).
“The project installation will be completed in May and we expect to see the upgraded can line operating at full capacity by the end of June,” noted Russell Tabata, Brick’s Chief Operating Officer. “We will build inventory in advance of the project to ensure that there are no disruptions in our supply chain and we continue to meet our internal and customer’s production needs while the project is being implemented,” added Mr. Tabata.
“Each year we establish an operating plan that reflects the future needs of our business and our customers. This year’s capital plan ensures we continue to grow our canning capacity and capabilities for both our owner brands and our co-pack customers,” said George Croft, Brick Brewing President and Chief Executive Officer. “Our ongoing investments, along with the outstanding efforts of our employees, resulted in significant can volume growth this past year. The strength and condition of our brands today gives us the confidence that we will need additional canning capacity to meet the needs of our owner brands and co-pack customer brands.”
About Brick Brewing
Brick is Ontario's largest Canadian-owned brewery. The Company is a regional brewer of award-winning premium quality and value beers and is officially certified under the Global Food Safety Standard, one of the highest and most internationally recognized standards for safe food production. Founded in 1984, Brick Brewing Co. was the first craft brewery to start up in Ontario, and is credited with pioneering the present day craft brewing renaissance in Canada. Brick has complemented its Waterloo premium craft beers with the popular Laker brand. In 2011, Brick purchased the Canadian rights to Seagram Coolers and in 2015, secured the exclusive Canadian rights to both LandShark® and Margaritaville®. In addition, Brick utilizes its leading edge brewing, blending and packaging capabilities to provide an extensive array of contract manufacturing services in beer, coolers and ciders. Brick trades on the TSX under the symbol BRB. Visit us at www.brickbeer.com.
Forward-Looking Statements
All statements in this press release that do not directly and exclusively relate to historical facts constitute forward-looking statements as of the date of this press release. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "anticipate", "seek", "plan", "believe" or "continue" or the negatives of these terms or variations of them or similar terminology. Although the Corporation believes that the expectations and assumptions reflected in these forward-looking statements are reasonable, undue reliance should not be placed on these forward-looking statements, which are not guarantees and are subject to certain risks, uncertainties and assumptions, which may cause actual performance and financial results to differ materially from such forward-looking statements. The forward-looking statements included in this press release are made only at the date of this press release and, except as required by applicable securities laws, the Corporation does not undertake to publicly update such forward-looking statements to reflect new information, future events or otherwise.
Contact Information
For further information:
Sean Byrne, Chief Financial Officer
(519) 742-2732 Ext. 132
E-mail: info@brickbeer.com