Business
Big Rock Brewery Inc. Announces Strategic Capital Plan in Calgary and Concurrent Credit Facility Expansion
Big Rock Brewery Inc. Announces Strategic Capital Plan in Calgary and Concurrent Credit F...
About this update from Big Rock Brewery Inc.
[{"type":"text","content":"\n \n \n \n Big Rock Brewery Inc. Announces Strategic Capital Plan in Calgary and Concurrent Credit Facility Expansion\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n Highlights:\n \n \n \n \n The Big Rock Board of Directors has approved a 2021 capital plan of\n \n $8.8 million\n \n focused on enhanced packaging capabilities at its\n \n Calgary\n \n facility, IT and digital transformation projects and maintenance capital;\n \n \n Upon completion scheduled for early fourth quarter 2021, Big Rock will have over 1.6 million hectolitres of total packaging capacity with significant flexibility for various can formats, bottles and kegs; and\n \n \n The expansion of Big Rock's existing credit facilities with ATB Financial to a total capacity of\n \n $16.0 million\n \n , an increase of 45% from\n \n $11.0 million\n \n .\n \n \n \n \n CALGARY, AB\n \n ,\n \n Feb. 9, 2021\n \n /CNW/ -\n \n Big Rock Brewery Inc.\n \n (TSX: BR) (\"\n \n Big Rock\n \n \" or the \"\n \n Corporation\n \n \"),\n \n Western Canada's\n \n largest independent brewer, today announced its Board of Directors (the \"\n \n Board\n \n \") has approved an\n \n $8.8 million\n \n 2021 capital plan focused on strategic equipment investments to expand the packaging capabilities at its\n \n Calgary\n \n facility and the modernization of its production, sales, marketing and finance processes through investments in information technology (\"\n \n IT\n \n \"). The capital plan supports the Corporation's growth strategy with its current owned brands, new innovations and its rapidly growing co-packing business.\n \n \n \n \n \n \n \n \n \n \"We believe Big Rock is one of the best positioned manufacturers in\n \n Western Canada\n \n to capitalize on the significant increase in demand for packaged beverage alcohol products and today's announcement is consistent with our growth strategy for owned and co-packed volumes produced in\n \n Calgary\n \n over the coming years,\" said President & CEO\n \n Wayne Arsenault\n \n , \"Today's announcement represents Big Rock's c...