AB InBev to invest $15 mln in ist St. Louis brewery
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Anheuser-Busch InBev said on August 19 that it would invest $15 million in its U.S. brewery, at a time when President Donald Trump is pushing to boost domestic production.
The company's stock price rose 1% before the bell on August 19.
This move is part of Anheuser-Busch's $300 million investment announced in May to create and sustain manufacturing jobs in the U.S. this year.
Several businesses across the globe have been ramping up investments and expanding their presence in the United States to avoid tariffs and align with the Trump administration's "Made in America" push.
AB InBev said the investment includes funding for supply chain infrastructure to transport its domestically grown ingredients to the St. Louis, Missouri brewery, and to get beer brands, including Budweiser and Bud Light, to consumers.
In July, the company saw a decline in sales volumes due to tepid demand in Brazil and China, adding to investor woes over the industry growth.
