Vietnam brewing plant to receive $90M

The Gannon Group, one of Vietnam’s leading foreign investment companies, has been granted license to spend $90 million on the construction and operation of a brewing facility near Ho Chi Minh City. The announcement was made on late June 2008 in Washington, D.C. The license is the first of its kind to a 100-percent privately invested US company on the ground in Vietnam.

“Vietnam is one of the fastest growing beverage markets in the world, and beer is leading that charge,” says Gannon Chief Executive Officer Walter Blocker. “In a country where demand—especially for premium products—is surging, it’s imperative that it be in a position to supply. We have the experience and know-how to assist.”

In the same month, Gannon also unveiled plans to invest an additional $2.1 million into its high-tech processing plant to better service the needs of its core customer base, which includes powerhouse brands Nestle, Pepsi, F&N and Unilever. When the brewery is finished, it will manufacture beer and other aerated drinks for distribution in Vietnam and export throughout Southeast Asia.