Brick Brewing Tops up Volume and Improves Bottom Line
KITCHENER, ON, Dec. 27, 2012 /CNW/ - Brick Brewing Co. Limited (TSX: BRB) today announced a new contract manufacturing agreement for an initial term of three years. The projected volume is 80,000 hectolitres ("HL") over the term of this contract with approximately 10,000 HL in the first year. "Prior to achieving this agreement, our facilities had approximately 200,000 HL per year of surplus capacity," remarked George Croft, President and CEO of Brick Brewing. "The additional volume associated with this new contract will improve our productivity and return on capital."
"A key component of our growth strategy is to attract beverage alcohol partners from around the world and take advantage of our expertise and assets," continued Croft. "We recently added a new higher capacity can line and have maintained our A-level certification under the internationally recognized Global Food Safety Standard, both of which have contributed to our continued success in earning and maintaining the co-pack partnerships we have." Brick is scheduled to start production on this new manufacturing agreement beginning March 1, 2013.
About Brick Brewing
Brick Brewing Co. Limited is Ontario's largest Canadian-owned and Canadian-based publicly held brewery. The Company is a regional brewer of award-winning premium quality and value beers and is officially certified under British Retail Consortium (BRC) Global Standards for Food Safety, one of the highest and most internationally recognized standards for safe food production. Founded in 1984, Brick Brewing Co. was the first craft brewery to start up in Ontario, and is credited with pioneering the present day craft brewing renaissance in Canada. Brick has complemented its Waterloo brand premium craft beers with other popular brands such as Laker, Red Baron, Red Cap and Formosa Springs Draft. In March 2011, Brick purchased the Canadian rights to the Seagram Coolers and now produces, sells, markets and distributes Seagram Coolers across Canada. Brick trades on the TSX under the symbol BRB. Visit us at www.brickbeer.com.
All statements in this press release that do not directly and exclusively relate to historical facts constitute forward-looking statements as of the date of this press release. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "anticipate", "seek", "plan", "believe" or "continue" or the negatives of these terms or variations of them or similar terminology. Although the Corporation believes that the expectations and assumptions reflected in these forward-looking statements are reasonable, undue reliance should not be placed on these forward-looking statements, which are not guarantees and are subject to certain risks, uncertainties and assumptions, which may cause actual performance and financial results to differ materially from such forward-looking statements. The forward-looking statements included in this press release are made only at the date of this press release and, except as required by applicable securities laws, the Corporation does not undertake to publicly update such forward-looking statements to reflect new information, future events or otherwise.
SOURCE Brick Brewing Co. Limited