The Irish Independent reports that several hundred jobs will be lost when most of the world-famous Guinness brewery at St James's Gate in Dublin is closed and sold off as part of a major revamp of the company's operations.
For the first time in more than 200 years the black stout synonymous with the capital will not be brewed beside the Liffey in the centre city.
Instead it will be produced at a site at Grange Castle, Clondalkin, in west Dublin. Diageo, which owns Guinness, will reveal later today that it has decided to consolidate its Irish brewing operations at the Clondalkin site.
But it will continue to brew the Guinness flavour essence extract at St James's Gate. The move will also involve the closure of Diageo breweries in Kilkenny, Waterford and Dundalk.
It is expected to lead to the loss of several hundred jobs at the company, which employs 2,500 in the Republic and the North.
The restructuring will allow Diageo to sell much of the 55-acre site at St James's Gate for development.
The site was valued at €3bn at the height of the property boom but it might struggle to command such a price in the current market, especially as Guinness will retain some of it.
Later today, Diageo will argue it is no longer commercially viable to brew at Dublin, Kilkenny, Waterford and Dundalk. It is understood the company is also considering making its brewing operations into a separate company which might be quoted separately on the London, and possibly Dublin, stock exchanges.
For the first time in more than 200 years the black stout synonymous with the capital will not be brewed beside the Liffey in the centre city.
Instead it will be produced at a site at Grange Castle, Clondalkin, in west Dublin. Diageo, which owns Guinness, will reveal later today that it has decided to consolidate its Irish brewing operations at the Clondalkin site.
But it will continue to brew the Guinness flavour essence extract at St James's Gate. The move will also involve the closure of Diageo breweries in Kilkenny, Waterford and Dundalk.
It is expected to lead to the loss of several hundred jobs at the company, which employs 2,500 in the Republic and the North.
The restructuring will allow Diageo to sell much of the 55-acre site at St James's Gate for development.
The site was valued at €3bn at the height of the property boom but it might struggle to command such a price in the current market, especially as Guinness will retain some of it.
Later today, Diageo will argue it is no longer commercially viable to brew at Dublin, Kilkenny, Waterford and Dundalk. It is understood the company is also considering making its brewing operations into a separate company which might be quoted separately on the London, and possibly Dublin, stock exchanges.
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