News: Changing Constellation
The Buronga winery will retain some grape processing and its viticultural staff to support local grape growers. Beginning with the 2008 harvest, winemaking will take place at Berri Estates. In May 2008, packaging will move to Berri Estates.
"Given the ever-changing global marketplace, we continuously review our operations around the world to ensure maximum asset utilization and to better assure that we are well-positioned for ongoing long-term growth and value creation," stated Rob Sands, Constellation Brands president and chief executive officer. "Similar to other production-oriented businesses, we must periodically refine our global production footprint and this is an example of our pro-active approach to address marketplace macro trends. We always look for ways to improve our operational efficiency and improve profitability."
The company will explore international production facility optimization opportunities in addition to those described in this news release. Also, as referenced in its news release announcing the proposed acquisition of the Fortune Brands U.S. wine portfolio, Constellation will determine the best way to effectively assimilate the brands and facilities from that transaction. Details will be provided at the appropriate time.
From the November 19, 2007, Prepared Foods e-Flash