June 6/London/Fox Business -- Alcoholic beverage giant Diageo plans to spend 1 billion pounds ($1.55 billion) over the next five years to boost its production of Scotch whisky as demand continues to grow.
Diageo will build a major new malt distillery as part of the investment and expand a number of existing distilleries. It also plans to detail plans for a second new distillery, which it says will be built if global demand reaches certain levels.