ST. LOUIS (AP) - Anheuser-Busch plans to invest $1 billion in its U.S. breweries and other facilities by 2014.
The St. Louis-based brewer of brands like Budweiser and Bud Light said the money allotted for projects this year will go toward modernizing its brewing processes, upgrading its systems to reduce greenhouse gas emissions and installing equipment for new products.
Anheuser-Busch is the leading American brewer, but like most companies doing business in the U.S., has continued to see demand for its products fall as the tough economy wears on consumers. Its parent company, Belgium-based Anheuser-Busch InBev, the world's largest brewer, reported that its second-quarter profit rose by more than a quarter as higher sales in China made up for soft demand in the U.S. and Brazil. Meanwhile, Anheuser-Busch is reinvesting in the business to boost efficiency and productivity, and in turn, profitability.
Anheuser-Busch has made a number of investments in its business recently, including a $60 million upgrade of its St. Louis brewery and $34 million upgrade of its Houston brewery, which allowed it to expand its production and improve its environmental efficiency. The company also has increased spending in its agricultural operations and other facilities, including a $40 million investment in its Longhorn Glass facility in Houston.