Maker of Corona posts big increase in revenues, profits; Still wants $2.5 billion from Anheuser-Busch
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Mexican brewer Grupo Modelo posted a 32.5 percent rise in third-quarter net profit, Reuters is reporting.
The maker of Corona also said there was no change in its arbitration process against partner Anheuser-Busch. Modelo gave no new information about the arbitration case it started a year ago against Anheuser-Busch in connection with the acquisition by InBev of Belgium.
That deal created the world’s largest beer company, but Modelo - which is half-owned by Anheuser-Busch - said it had the right to choose its own partner. The Mexican company wants $2.5 billion in the arbitration case.
Meanwhile, Modelo is posting much stronger results. The company earned earned $218 million in the July-to-September period, an increase of nearly a third. Quarterly revenue rose 11 percent, jacked higher by more beer sales coupled with a price rise. Its exports benefited from the weakening of the peso against the dollar, which made the beer more affordable for U.S. drinkers.
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Jeremiah McWilliams is a native Virginian who came to the Post-Dispatch in early 2007 to cover beer and other consumer products. He previously covered manufacturing for the Virginian-Pilot newspaper in Norfolk, Va. He is a graduate of Washington and Lee University. 
Hmmm, I would sue AB if I could because I was let go last December. Unfortunately, I am a White Male, which doesn’t fall into any minority category. I have no recourse. I am a little confused, I thought everybody that was let go had to sign a waiver? Maybe she didn’t get a package deal? Not sure?