13th Sep 2006 12:00
C&C Group Plc13 September 2006 €200 million capital investment programme in cider manufacturing capacity CCR.I CCR.L Dublin, London, September 13th, 2006: C&C Group plc ('C&C' or the 'Group'), aleading manufacturer, marketer and distributor of branded beverages in Irelandand the U.K., today hosted a site visit for analysts at its Clonmel cidermanufacturing facility. At the site visit, C&C announced a €200 million capital investment programme todouble its cider manufacturing capacity in Clonmel within an 18-month timeframe.It is expected that key elements of the capacity increase will becomeoperational in spring 2007. The expansion reflects the rapid growth of C&C'sMagners cider brand. The resulting investment in both fixed and working capital will reduce theGroup's FCF/EBITDA (i) expectation to a 30-40% range in each of 2006/07 and2007/08 fiscal years. This, however, will not affect the Group's progressivedividend policy. Brendan McGuinness, Managing Director of C&C's Cider Division commented "This isthe Group's largest ever capital investment programme and is designed to resolveour current supply difficulties and provide an ample level of spare capacitygoing forward". (i) Free Cash Flow/Earnings before interest, tax, depreciation and amortization About C&C Group plc C&C Group plc is a leading manufacturer, marketer and distributor of brandedbeverages in Ireland and the UK. C&C manufactures the leading Irish cider brand,Bulmers, and the premium international cider brand, Magners, for export to theUnited Kingdom, the United States and Continental Europe. C&C also exportsspirits and liqueurs, including the premium Irish whiskey brand, Tullamore Dew,to over 80 international markets. The Group's portfolio also comprises some of Ireland's leading beverage brandsincluding Club soft drinks and Ballygowan bottled water. C&C also distributeswithin the Irish market several leading international brands, owned by thirdparties, including 7UP and Pepsi soft drinks and a portfolio of wines andspirits. Investors and analysts Irish Media International MediaMark Kenny/Jonathan Neilan Paddy Hughes/ Ann-Marie Curran Edward OrlebarK Capital Source Drury Communications M CommunicationsTel: +353 1 631 5500 Tel: +353 1 260 5000 Tel: +44 207 153 1523 Email: Email: Email:c&[email protected] [email protected] [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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