Chile: CCU to invest $120 mil in 2007 to increase production capacity

CCU, Chile's largest brewer, said it would invest $120 million in 2007 to increase production capacity to meet strong demand in Chile and Argentina, Reuters reported April 19.

"We're making these investments to grow in beer in Chile, in bottled water, fruit juices, pisco and beer in Argentina, in all our products," CEO Patricio Jottar said on the sidelines of a shareholders' meeting.

CCU produces most of the best-selling beer brands in Chile including Cristal, Heineken, Escudo and Kunstmann.

The company is the second-biggest brewer in Argentina.

CCU's sales volume rose 7.7 percent year-on-year in the first quarter of 2007.