Anheuser-Busch InBev to close Russian brewery
Anheuser-Busch InBev intends to close its Kursk brewery in Russia, as part of its plan to reduce costs.
Recent government alcohol sale regulations to control drinking in Russia have led to the company's decision to close the brewery, reported Reuters.
Russia had implemented actions such as increase in excise tax hikes and an advertising ban across all media, including online.
According to the company, the Kursk brewery's output fell 30% in 2011. Following its shut down, production will shift to other sites.
From the plant's existing 275 staff, only 50 are expected to remain with the company, which produces Budweiser and Stella Artois.
Anheuser-Busch InBev Russian unit SUN InBev said in a statement that the group has no other option in the current beer market conditions which continue to negatively reflect on financial results.