RICHMOND - Governor Mark R. Warner today announced that Coors Brewing Company will invest an additional $24 million to expand its Rockingham County facility. The expansion, which will create eight new jobs, will allow Coors to improve production efficiency through the addition of a new high-speed line.
This announcement comes on the heels of Coors’ announcement in August 2004 to open a brewery at the Shenandoah facility. These announcements combined bring the total investment at the Elkton facility to more than $200 million between 2004 and 2007.
“A second expansion in less than two years demonstrates Coors’ great success in Rockingham County,” said Governor Warner. “This expansion will make the Coors Shenandoah plant an even more vital part of Coors’ future. I congratulate the company on its outstanding growth.”
Coors Brewing Company is a subsidiary of Molson Coors Brewing Company (NYSE: TAP; TSX), the world's fifth-largest brewer. Coors Brewing Company is the third-largest brewer in the U.S. The company’s products include: Coors Light, Molson Canadian, Coors, Aspen Edge, Killian’s Irish Red, Zima XXX, Keystone, Blue Moon, and Coors NA.
“We are so proud that Coors has selected the Shenandoah Plant for this additional investment,” said Robert Machado, vice president and general manager of Coors Shenandoah. “Our vision is to become the safest and most productive brewery in the world.”
The Virginia Economic Development Partnership worked with Rockingham County to assist the company with its decision. Governor Warner approved a $250,000 performance-based grant from the Virginia Investment Partnership program, an incentive available to existing Virginia companies.
Pablo Cuevas, Chairman of the Rockingham County Board of Supervisors noted, “We are excited about the latest expansion plans at the Coors Shenandoah plant. Rockingham County and the Shenandoah Valley are fortunate to have the Adolph Coors Company as a valued corporate citizen. We appreciate their contribution to the vibrant local economy.”