(Reuters) -Anheuser-Busch InBev’s American subsidiary said on Monday it would invest $300 million in its manufacturing operations in the United States this year amid a push for local production under President Donald Trump.
The St. Louis, Missouri-based Anheuser-Busch, which said it invested nearly $2 billion over the last five years in 100 facilities across the country, also announced the launch of a new plant in Columbus, Ohio.
“Anheuser-Busch has been a shining example of what ‘Made in America’ means, and their latest investment of $300 million builds on their longtime commitment to grow our workforce and expand U.S. manufacturing,” U.S. Labor Secretary Lori Chavez-DeRemer said.
AB InBev reported a rise in first-quarter profit last week that was more than double the increase expected by analysts. Its profit margins were also higher despite a fall in sales volumes.
The company had previously said it was boosting investments in key brands such as Budweiser and ramping up efforts to grow at-home consumption, as spending elsewhere – including in bars – remains pressured.
U.S.-listed shares of Anheuser-Busch were down 1.7% in midday trading.
(Reporting by Neil J Kanatt in Bengaluru; Editing by Pooja Desai and Anil D’Silva)
