The joint venture of US brewing companies SABMiller and Molson Coors has found an innovative use for one of its breweries’ waste water.

MillerCoors’ brewery in Ohio has teamed up with a company which produces animal feeds from renewable sources to run a full-scale trial.

The new product will use specialist technology to create a fish food ingredient to replace less sustainable ones currently used on fish farms nationwide.

Leo Kiely, chief executive of the joint venture, said: “We aim to ensure that we utilise our waste resources to the greatest extent possible.”

He added that innovations such as this show that there are “innumerable ways” in which one person’s waste can be made useful to others.

SABMiller recently announced that it would also be improving its recycling infrastructure to help reduce the amount of its packaging that ends up in landfill.

The brewer’s Bavaria subsidiary, in Colombia, has partnered with supermarket chain Carrefour to install 15 recycling centres in several major cities.

This internship will be based in the Milwaukee Brewery, working with Managers, Learning & Development, Employee Relations Managers, and brewery workers.

- Drive efficiencies and sustain improvement through the most effective use of people resources and work practices that demonstrate a world-class culture

- Analyze current Quality Education materials and process to determine efficiency and use by brewery workers

- Develop and leverage more effective Quality Education training materials, using videos, computer-based materials, and other various learning tools

- Provide consistent certification processes and controls

- Examine and refine the Learning & Development structure and tools to provide improved support and information sharing between Human Resources, Management, and current employees

- Develop learning metrics and reports to be used by the Learning & Development team

- Analyze capability and utilization of system to build and track training plans based on needs analysis

More info here

MillerCoors – the North American marketing arm of Colorado’s Molson Coors Brewing Co. – said Wednesday it has donated $1.3 million to support 47 historically black public colleges and universities.

The donation is to the Thurgood Marshall College Fund, which raises money for the colleges, and will be used to support leadership development, programmatic support, scholarship and capacity-building at the 47 schools.

The fund has awarded about $100 million in support of students attending the colleges over the last 22 years.

“As the founding corporate sponsor, MillerCoors recognizes the importance of supporting the next generation of political leaders, entrepreneurs and CEOs,” Larry Waters, TMCF board member and MillerCoors director of multicultural relations, said in a statement. “And this donation is just an example of our continued and unwavering commitment to encouraging the dreams and aspirations of students.”

a premier marketer of healthy food and beverage products, today announced the addition of Supreme Beverage Company, Inc. to its Fusion Premium Beverages product distribution network. As the leading Miller Coors distributor in Northern Alabama, this new distribution agreement increases Fusion Premium Beverages’ access to over 13,000 on and off premise accounts throughout the United States.

“We are excited about the opportunity to add Supreme Beverage Co. to our distribution network,” stated Scott Slocum, President of Fusion Premium Beverages. “Our strategy of partnering with the best in sales and distribution continues to present opportunities to expand the accessibility of our Resurrection^TM Anti-Hangover Drink.”

In business since 1946, Supreme Beverage Co. has grown to become one of Alabama’s leading beer wholesalers, operating five warehouses across the North Central region of the state. “Fusion Premium Beverages’ products will be an exciting addition to our non-alcohol beverage portfolio,” said Michael Schilleci, Vice President of Supreme Beverage. “We immediately recognized Resurrection^TM as a true category creation brand when we saw it, and we are thrilled to be able to provide this to our customers.”

The Manager, Leadership Development manages Miller-Coors leadership development and provides thought partnership for leadership development across the organization including capability building and development strategies, programs, assessment, and feedback processes. Responsible for coaching processes, mentoring programs, leadership interventions, the Management Development Program, and the MillerCoors University Leadership curriculum. Provides tailored support to HR Business partners and line management for building leadership and management capability; works collaboratively with specialist functions such as Organization Development, Talent Management, and HR Managers providing sound recommendations and solutions for developing leaders; Ensures integrated, sustainable learning solutions for leaders across the enterprise.

Areas of responsibility include:

Leadership development programs and Mentoring-

Design and execution support to build and deliver leadership courses and programs

Assessment and 360 Feedback Processes

Customized Leadership solutions as needed

Leadership coaching

Manages mentoring initiatives and programs

Facilitates leadership and management programs

More info here

The Category Analyst provides critical analytical support to their assigned chain account(s) teams. (Wal-Mart) A key component of MillerCoors success with chain customers is the ability to develop insights and deliver against selling opportunities. Identifying these sales opportunities require rigorous analysis and keen insights that this position provides.

The category analyst is also the primary MillerCoors representative to the customer for all category management processes and expertise. This position manages the category management retailer relationship and provides ‘best of class category management services and insights (shopper and business) to achieve category goals of the retailer and MillerCoors.

Account business analysis

Insights and opportunity generation

Volume forecasting and plan volume bridge

Analyze volume impact, ROI of planned programs

Gap analysis vs. plan, category

Identify volume, share and profit opportunities

Collaborate with field to understand retail execution

Identify AMPPS solutions

Present results/proposals to chain team management

Incorporate into customer sales presentations

Mine consumer/shopper insights to identify customer opportunity

Represent MillerCoors analytical and category expertise to the customer

Deliver category/space management presentations to retailers to secure partnership

Develop customer category plans collaboratively with the retailer

Apply MillerCoors category management standards.

Apply and customize MillerCoors category retail solutions to account situation

Develop solutions selling presentation for customer. Present with account manager.

More info here

Provide global support for the HRIS systems (SAP and other internal HR systems) in the areas of maintenance of system structures, establishing and maintaining system processes, reporting, SOX compliance, auditing and other system protocols. Maintain relationships with IT to ensure coordinated communication and interaction regarding systems.

Expert on all HR systems and interfaces to third parties. Overseas maintenance of enterprise org structures, SAP template, Jobs, positions and org units. Accountable for coordination of changes/enhancements to portal both global and local. Focus on continuous improvement.

Maintain protocols for data governance, security, content mangement, system enhancements, data transfers, reporting, and interfaces. Ensure a global view on system and process changes at local level.

Maintain relationship with IT to ensure consistency regarding HRIS systems.

Provide global accountability for system related SOX requirements

More info here

Molson Coors Reports Double-Digit Third Quarter 2009 Income Growth Molson Coors Brewing Company (NYSE: TAP; TSX) has reported double-digit income growth for the third quarter. Net income attributable to Molson Coors increased 37.4 percent to $235.3 millionfor the third quarter, up from $171.3 million a year ago. Underlying after-tax income(1) increased 22.7 percent to $212.9 million, or $1.14 per diluted share, up from $173.5 million, or $0.93 per diluted share, a year ago.

Peter Swinburn, Molson Coors president and chief executive officer, said, “Molson Coorshad a successful third quarter, with underlying earnings up more than 22 percent versus a year ago. This headline profit includes some non-operating and one-time noise, both positive and negative. The positive resolution of tax positions in the quarter was partially offset by currency headwinds, a mark-to-market hedge loss this year, and the challenge of cycling supplier negotiation benefits last year. Excluding these factors, earnings grew approximately 13 percent in the quarter. These trading results reflect a high level of brand investment, coupled with cost control and price management. Our results also reflect weak industry volume trends, continued cost inflation across our businesses, and more promotional pricing activity in Canada. In terms of our portfolio performance, total-company volume in the third quarter declined, and worldwide Coors Light volumes were down slightly against a strong growth quarter a year ago.”

“We remain focused on building a diverse portfolio of extraordinary brands, offering value-enhancing innovations for consumers, and achieving positive pricing to grow our top-line and bottom-line as the economy improves. We offer value to consumers in many forms, including innovative brands and promotional packaging, as well as category-leading advertising, retail promotions and service to our customers. In the fourth quarter, incremental investments related to these efforts will be most significant in our Canada, U.S. and international businesses. These investments are consistent with our brand-led global strategies, and we expect them to drive top-line and bottom-line growth as we move into 2010.”

Third Quarter Highlights

Key operating and financial highlights for the Company’s fiscal third quarter endedSeptember 26, 2009, compared to the fiscal third quarter ended September 28, 2008, include the following:

    --  Net income attributable to Molson Coors increased 37.4 percent to $235.3
        million for the third quarter, up from $171.3 million a year ago, driven
        by a lower effective tax rate, a one-time gain on the Company's
        total-return swap, and lower net special charges, as well as strong cost
        control and price management across the company.
    --  Underlying after-tax income(1) increased 22.7 percent to $212.9 million,
        or $1.14 per diluted share, up from $173.5 million, or $0.93 per diluted
        share a year ago.  This earnings performance was driven by a lower
        effective tax rate and strong earnings growth from MillerCoors and our
        U.K. business, which were partially offset by cost inflation, lower
        worldwide volume, and unfavorable currency movements.
    --  Third quarter 2009 results include the impact of unfavorable foreign
        currency movements, which decreased total underlying pretax income
        approximately $13 million versus a year ago.

    --  Molson Coors worldwide beer volume decreased 2.9 percent, driven by
        challenging markets, a weak global economy, and the Company's continued
        strategy in the U.K. to emphasize revenue growth over low-margin volume
        growth.

The Company’s effective tax rate during the third quarter 2009 for income from continuing operations was 9 percent on a reported basis and 4 percent on an underlying basis. The Company estimates that its full-year 2009 underlying effective tax rate will be in the range of negative 2 percent to positive 2 percent. These tax rates are significantly lower than the Company’s anticipated long-term tax rate range of 22 percent to 26 percent due to the favorable resolution of unrecognized tax positions during 2009.

During the quarter, Molson Coors achieved an incremental $18 million of cost savings as part of its three-year, $250 million Resources for Growth (RFG) cost savings program. Savings from the RFG program now total $246 million.

MillerCoors achieved $73 million in synergies in the third quarter, largely due to marketing synergies, as well as organizational savings resulting from the elimination of duplicate and transitional positions in the third quarter 2008. Molson Coors’ 42 percent share of these synergies is $31 million. Network optimization savings continue to be realized from shifting production of Coors and Miller brands into the larger MillerCoors brewery network, a process which will continue for the next nine months. MillerCoors continues to integrate business processes and systems across the enterprise to deliver enhanced customer solutions and better leverage the scale of the business.

MillerCoors has delivered $183 million in synergies this year, bringing the total to $211 million since beginning operations on July 1, 2008. The Company now expects to achieve$270 million of cumulative synergies by the end of 2009, surpassing its original commitment of $225 million. As previously communicated, MillerCoors will deliver incremental cost savings above the $500 million synergy target, and approximately $200 million in cost savings are expected to be delivered by the end of 2012, approximately in-line with current market expectations. These cost savings include efficiencies in production costs, procurement, and marketing, general and administrative expense.

Molson Coors Brewing Company’s total worldwide beer volume was 13.8 million hectoliters in the quarter, 2.9 percent lower versus the prior year, as shown in Table 1 below.

    Molson Coors Brewing Company
    Table 1:  2009 Third Quarter Worldwide Beer Volume
    (In Millions of Hectoliters)

                                    Thirteen Weeks Ended
                           --------------------------------------
                           September 26, 2009  September 28, 2008   % Change
                           --------------------------------------   --------
                                   Actual           Actual
      Financial Volume:             5.181            5.480           (5.5%)
      Royalty Volume:               0.076            0.078           (2.6%)
                           --------------------------------------
    Owned Volume:                   5.257            5.558           (5.4%)
      Proportionate Share of
       Equity Investment
       Sales-to-Retail(1):          8.542            8.658           (1.3%)
                           --------------------------------------
    Total Worldwide Beer
     Volume:                       13.799           14.216           (2.9%)
                           ======================================

    Notes:
    (1) Reflects the addition of Molson Coors Brewing Company's
        proportionate share of MillerCoors and Modelo Molson sales-to-retail
        for the periods presented, adjusted for comparable trading days, if
        applicable.

Business Segments

Following are the Company’s 2009 third quarter results by business segment:

Canada Business

Canada underlying pretax income in local currency declined 2 percent versus a year ago. Positive net pricing and the benefit of cost savings initiatives were offset by declines in volume and higher marketing, general and administrative expenses, driven by increased brand investment and the deconsolidation of our interest in the Beer Stores in Ontario(Brewers Retail Inc.). On a reported basis, Canada underlying pretax income was $139.3 million in the third quarter, 7.7 percent lower than a year ago, as the Canadian Dollar declined versus the U.S. Dollar approximately 6 percent, or $9 million, in the quarter.

Canada sales-to-retail (STRs) decreased 3.2 percent in the third quarter versus last year. Coors Light continued to show growth, while Molson Canadian and Molson Export declined versus prior year. Canada beer industry volumes decreased an estimated 0.7 percent in the quarter.

Canada sales volume was 2.5 million hectoliters, down 1.8 percent from a year ago. Comparable(2) net sales per hectoliter increased 2 percent in local currency, driven by favorable net pricing, led by price increases across all major markets, partially offset by continued price discounting activity.

Cost of goods sold per hectoliter increased slightly on a comparable basis in local currency. An increase in commodity, packaging material, distribution and other input costs, including pension expense, as well as fixed cost deleverage related to lower export volume to the U.S., were offset by savings from our Resources for Growth initiatives.

Comparable marketing, general and administrative expenses increased 4.4 percent in local currency, driven by higher brand and innovation investments.

United States Business (MillerCoors)(3)

Molson Coors underlying U.S. segment pretax income grew 16.6 percent to $107.4 millionin the third quarter due to strong underlying income growth by MillerCoors. Strong MillerCoors income growth was partially offset by cycling high equity income last year and one day of income for the legacy Coors business prior to the formation of MillerCoors onJuly 1, 2008.

MillerCoors Operating and Financial Highlights (U.S. GAAP)

For the quarter, underlying net income attributable to MillerCoors, excluding special items, increased 28.1 percent to $244.4 million versus the prior-year comparable quarter. MillerCoors is successfully delivering synergies, controlling costs, and managing revenue for sustainable profit growth, despite continuing commodity cost pressures.

MillerCoors domestic sales-to-retailers (STRs) were down 1.3 percent due to a slight decline in premium light volumes and continued softness in above premium and premium brands. Domestic sales-to-wholesalers (STWs) fell 0.7 percent primarily driven by lower retail sales.

MillerCoors total net revenue increased 3.1 percent to $2.01 billion versus the prior-year comparable quarter, driven by domestic net pricing. Excluding contract brewing and company-owned distributor sales, net sales revenue increased 3.0 percent to $1.87 billion. Third-party contract brewing volumes declined 4.6 percent, though profits were up slightly from the prior-year comparable quarter.

Pricing remained strong in the third quarter, as domestic net revenue per barrel, excluding contract brewing and company-owned distributor sales, increased 3.7 percent, driven by sustained price increases taken in the fall of 2008 and reductions in discount activity.

Cost of goods sold per barrel increased 3.5 percent as benefits from MillerCoors cost leadership programs were more than offset by brewing and packaging material cost increases under procurement contracts largely arranged prior to more recent commodity market price reductions.

Marketing, general and administrative costs decreased 4.5 percent, driven primarily by lower organizational costs and synergies, which were partially offset by IT integration-related expenses.

Depreciation and amortization expenses for MillerCoors in the third quarter were $72.9 million and additions to tangible and intangible assets totaled $79.5 million.

United Kingdom Business

U.K. underlying pretax earnings in local currency increased more than 20 percent versus a year ago. This increase was driven by positive results from the strategic actions our U.K. team has taken in the past year, including leveraging our contract brewing arrangement and brand building efforts, allowing us to forgo low-margin volume. The benefit of these actions was partially offset by the one-time impact of a mark-to-market adjustment on natural gas hedges and cycling a one-time supplier negotiation benefit of $6 million in 2008, combined with lower volume and higher marketing, general and administration expenses in the quarter. On a reported basis, third quarter U.K. underlying pretax income was $32.7 million, an increase of $2.0 million, or 6.5 percent, versus the same quarter last year. These results include the impact of a 13 percent devaluation of the British Pound versus the U.S. Dollar, which reduced U.K. earnings by $5 million in the quarter.

U.K. owned-brand volume decreased 6.3 percent during the quarter due to declining industry volume and the Company’s strategy to forgo low-margin volume. The U.K. beer industry volume declined approximately 1 percent in the third quarter.

Comparable net sales per hectoliter of owned products increased 21 percent in local currency, driven by two factors. Higher pricing in all channels and positive sales mix drove 17 percent and 4 percent of the increase, respectively.

Comparable cost of goods sold per hectoliter of owned brands increased 22 percent in local currency in the third quarter, driven by cycling the one-time supplier negotiation benefit in 2008, input cost inflation, adverse brand and channel mix, a mark-to-market adjustment on natural gas hedges, and the deleveraging impact of lower owned-brand volumes.

Marketing, general and administrative expense increased 7.8 percent in local currency due to higher marketing, incentive compensation, and bad debt expenses in the quarter, along with sales-related costs in our new Cobra business.

International Markets and Corporate

The underlying pretax loss for International Markets and Corporate was $57.5 million, a 7.1 percent increase versus the third quarter of 2008.

The Company’s International Markets business grew volume nearly 28 percent, on a small base, driven by the strength of Coors Light in China and Carling in Europe. Marketing, general and administrative expense for International Markets was $12.7 million in the quarter, an increase of $1.1 million versus a year ago.

Corporate general and administrative expense was $28.1 million in the third quarter, an increase of $7.7 million, driven by higher incentive compensation, project spending, and labor-related costs this year.

Corporate net interest expense was $24.7 million in the third quarter, a decrease of $3.7 million compared to a year ago, with approximately $2.7 million of this reduction attributable to the deconsolidation of BRI and the balance due to foreign currency movements. In the quarter, Corporate other income of $58.2 million was driven by a one-time mark-to-market gain related to the Foster’s cash-settled total-return swap.

Special and Other One-Time Items

During the third quarter 2009, the Company reported net special charges of $4.3 millionpretax, which was composed primarily of $3.5 million of non-cash expenses associated with closing the Edmonton Brewery.

Other one-time items in the quarter included a $59.3 million non-cash mark-to-market gain in Corporate other income related to the cash-settled total-return swap the Company arranged with respect to Foster’s common stock in 2008.

During the third quarter of 2009, MillerCoors reported special charges totaling $14.7 million, which include pension curtailment and integration expenses. This equates to $6.2 million atMolson Coors’ 42 percent economic ownership share.

The foregoing special and other one-time items have been excluded from underlying earnings in the third quarter 2009.

The company’s underlying results were reduced by other non-operating or unusual factors, including unfavorable year-over-year currency movements, a mark-to-market hedge loss this year and supplier negotiation benefits last year in the U.K. These headwinds totaled $22.3 million pretax in the 3rd quarter. Meanwhile, results in the quarter benefited from the favorable resolution of some unrecognized tax positions, which increased $36.4 million from a year ago.

Discontinued Operations

The Company reports results associated with its former Brazilian unit, Cervejarias Kaiser (“Kaiser”), as discontinued operations. The Company reported a loss of $9.0 million from discontinued operations during the quarter due to legal expenses and losses from foreign exchange, which were partially offset by reductions in liabilities.

2009 Third Quarter Earnings Conference Call

Molson Coors Brewing Company will conduct an earnings conference call with financial analysts and investors at 11:00 a.m. Eastern Time today to discuss the Company’s 2009 third quarter results. The Company will provide a live webcast of the earnings call.

Approximately two hours after the conclusion of the earnings call, the Company will also host an online, real-time webcast of an Investor Relations Follow-up Session with financial analysts at 2:00 p.m. Eastern Time. Both webcasts will be accessible via the Company’s website, www.molsoncoors.com. Online replays of the webcasts will be available until 11:59 p.m. Eastern Time on February 9, 2010. The Company will also post this release and related financial statements on its website today.

Footnotes:

(1) The Company calculates non-GAAP underlying income by excluding special and other one-time items from the nearest U.S. GAAP earnings measure. To calculate underlying income in the third quarter of 2009, the Company excluded one-time items, particularly related to MillerCoors, and the Foster’s cash-settled total-return swap, as well as net special charges of $4.3 million pretax. For further details, please see the section “Special and Other One-Time Items”, along with tables for reconciliations to the nearest U.S. GAAP measures. All $ amounts are in U.S. Dollars.

(2) Except where otherwise indicated, comparable Canada results exclude the sales and costs related to exporting beer to MillerCoors, as well as the reporting effects of the deconsolidation of Brewers Retail Inc. (BRI) in Ontario on March 1, 2009.

(3) MillerCoors, a U.S. joint venture of Molson Coors Brewing Company and SABMiller plc, was launched on July 1, 2008. Molson Coors has a 42 percent economic interest in MillerCoors, which is accounted for using the equity method. Molson Coors’ interest in MillerCoors results, along with certain adjustments under U.S. GAAP, are reflected in “Equity Income in MillerCoors.” This release includes reconciliation from MillerCoors Net Income to Molson Coors Brewing Company Equity Income in MillerCoors and Non-GAAP U.S. Segment Underlying Pretax Income (see Table 6).

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the federal securities laws, and language indicating trends, such as “trend improvements,” “progress,” “anticipated,” “expected,” “improving sales trends” and “on track.” It also includes financial information, of which, as of the date of this press release, the Company’s independent auditors have not completed their review. Although the Company believes that the assumptions upon which the financial information and its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company’s projections and expectations are disclosed in the Company’s filings with the Securities and Exchange Commission. These factors include, among others, changes in consumer preferences and product trends; price discounting by major competitors; failure to realize the anticipated cost savings and other benefits from MillerCoors; failure to realize anticipated results from synergy initiatives; and increases in costs generally. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. We do not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise.

Reconciliations to Nearest U.S. GAAP Measures

    Molson Coors Brewing Company
    Table 2:  2009 Third Quarter Underlying After-Tax Income
    (After-Tax Income From Continuing Operations, Excluding Special and Other
     One-time Items)
    (In Millions of $US, Except Per Share Data)
    (Note: Some numbers may not sum due to rounding.)

                                               2009 3rd Q        2008 3rd Q
                                               ----------        ----------
    U.S. GAAP: Income from continuing
     operations attributable to MCBC,
     net of tax:                                  244.3             168.1
                     Per diluted share:           $1.31             $0.90
    Add back: Pretax special items - net            4.3              24.8
    Add back: Environmental litigation
    reserve (1)                                       -               3.6
    Add back: Proportionate share of MillerCoors
     pretax special items - net (2)                 6.2               9.5
    (Less): Impact of MillerCoors accounting
     policy elections (2)                             -             (27.9)
    (Less): Gain related to the cash-settled
     total return swap (1)                        (59.3)            (13.6)
    Add back: Tax effects related to special
     and other one-time items                      17.4               9.0
    Non-GAAP: Underlying after-tax income:        212.9             173.5
                     Per diluted share:           $1.14             $0.93
    Notes:
    (1) Included in Other Income (Expense)
    (2) Included in Equity Income in MillerCoors, but excluded from non-GAAP
        underlying pretax income.

    Molson Coors Brewing Company
    Table 3:  2009 Third Quarter Underlying After-Tax Income, Net of
     Adjustments(1)
    (In Millions of $US)
    (Note: Some numbers may not sum due to rounding.)

    Non-GAAP: Underlying after-tax
     income - 3rd Q 2009:                        $212.9
    Adjustments - 3rd Q 2009 versus 3rd Q 2008:
       Currency movements, mark-to-market hedge
        loss                                       16.3
       Supplier renegotiation benefits in prior
        year                                        6.0
          Tax effects related to hedge loss and
           supplier renegotiation benefits         (2.7)
       Benefit of resolution of unrecognized
        tax positions                             (36.4)
                                                 -------
    Non-GAAP: Underlying after-tax
     income - 3rd Q 2009, net of
     adjustments(1):                             $196.1

    Non-GAAP:  Underlying after tax
     income - 3rd Q 2008:                        $173.5

                  Year-over-year percent change:     13%

    Notes:
    (1) Adjusted for year-over-year variances in other non-operating or
        unusual factors.

    Molson Coors Brewing Company
    Table 4:  2009 Third Quarter Underlying Pretax Income
    (Pretax Income From Continuing Operations, Excluding Special and Other
     One-time Items)
    (In Millions of $US)
    (Note: Some numbers may not sum due to rounding.)

                                          Business                  Total
                         ---------------------------------------- ------------
                                                         MCI and
                         Canada      U.S.         U.K.  Corporate Consolidated
                         ---------------------------------------- ------------
    U.S. GAAP: 2009 3rd
     Q Income (loss) from
     continuing operations
     before income
     taxes               $135.7     $101.2        $32.4     $1.4      $270.7
    Add back: Pretax
     special items - net    3.8          -          0.2      0.3         4.3
    Add back: Proportionate
     share of MillerCoors
     pretax special items
     - net (2)                -        6.2            -        -         6.2
    (Less): Gain related
     to the cash-settled
     total return swap (1)    -          -            -    (59.3)      (59.3)
    Non-GAAP: 2009 3rd Q
     underlying pretax
     income (loss)       $139.3     $107.4        $32.7   $(57.5)     $221.9
                         ---------------------------------------- ------------
    Percent change 2009
     3rd Q vs. 2008 3rd
     Q underlying pretax
     income (loss)         -7.7%      16.6%         6.5%     7.1%        0.8%
                         ---------------------------------------- ------------
    U.S. GAAP: 2008
     3rd Q Income (loss)
     from continuing
     operations before
     income taxes        $148.0     $110.5        $30.5   $(65.3)     $223.7
    Add back: Pretax
     special items - net    3.0          -          0.2     21.6        24.8
    Add back: Environmental
     litigation
     reserve (1)              -          -            -      3.6         3.6
    Add back: Proportionate
     share of MillerCoors
     pretax special items -
     net (2)                  -        9.5            -        -         9.5
    (Less): Impact of
     MillerCoors accounting
     policy
     elections (2)            -      (27.9)           -        -       (27.9)
    (Less): Gain related
     to the cash-settled
     total return
     swap (1)                 -          -            -    (13.6)      (13.6)
    Non-GAAP: 2008 3rd Q
     underlying pretax
     income (loss)       $151.0      $92.1        $30.7   $(53.7)     $220.1
                         ---------------------------------------- ------------
    Notes:
    (1) Included in Other Income (Expense)
    (2) Included in Equity Income in MillerCoors, but excluded from non-GAAP
        underlying pretax income.

    MillerCoors LLC
    Table 5:  2009 Third Quarter Underlying Net Income
    (Net Income, Excluding Special Items)
    (In Millions)

                         Three Months Ended           Nine Months Ended
                      --------------------------- ---------------------------
                      September 30, September 30, September 30, September 30,
                          2009          2008          2009          2008
                      --------------------------- ---------------------------
                                                                  Pro Forma
    U.S. GAAP - Net
     Income attributable
     to MillerCoors LLC: $229.7       $168.2        $740.6        $479.4
    Add back: Special
     items, net            14.7         22.6          45.5         138.7
                      --------------------------- ---------------------------
    Non-GAAP -
     Underlying
     net income:         $244.4       $190.8        $786.1        $618.1
                      =========================== ===========================

Pretax and after-tax underlying income should be viewed as a supplement to — not a substitute for — our results of operations presented on the basis of accounting principles generally accepted in the United States. We believe that underlying income performance is used by and is useful to investors and other users of our financial statements in evaluating our operating performance because it provides them with an additional tool to evaluate our performance without regard to items such as special items, which can vary substantially from company to company depending upon accounting methods and book value of assets and capital structure. Our management uses underlying income as a measure of operating performance to assist in comparing performance from period to period on a consistent basis; as a measure for planning and forecasting overall expectations and for evaluating actual results against such expectations; and in communications with the board of directors, stockholders, analysts and investors concerning our financial performance.

    Molson Coors Brewing Company
    Table 6:  Reconciliation of Net Income Attributable to MillerCoors to
     MCBC's Equity Income in MillerCoors and Reconciliation to U.S. Segment
     Underlying Pretax Income
    (In Millions)
    (Note: Some numbers may not sum due to rounding.)

                                                  Three             Three
                                               Months Ended      Months Ended
                                               -------------------------------
                                               September 30,     September 30,
                                                   2009              2008
                                               -------------------------------
    MillerCoors Net Income                       $229.7            $168.2
      Multiply: MCBC economic interest
       % in MillerCoors                              42%               42%
                                               -------------------------------
      MCBC proportionate share of MillerCoors
       net income                                 $96.5             $70.6
      Add: Accounting policy elections (1)            -              31.8
      Add: Amortization of the difference
       between MCBC contributed cost basis and
       the underlying equity in net assets
       of MillerCoors (2)                           2.4               6.0
      Add: Share-based compensation
       adjustment (3)                               2.3              (1.9)
                                               -------------------------------
    Equity Income in MillerCoors (reported)      $101.2            $106.5
                                               ===============================
      Add: U.S. Segment pretax income for
       June 30, 2008                                  -               4.0
      Add: Proportionate share of MillerCoors
       special items (4)                            6.2               9.5
      Add: MillerCoors variable share-based
       compensation (5)                               -               3.9
      (Minus): Accounting policy elections (1)        -             (31.8)
                                               -------------------------------
    U.S. Segment Underlying Pretax Income
     (Non-GAAP)                                  $107.4             $92.1
                                               ===============================

    Notes:
    (1) MillerCoors made its initial accounting policy elections upon
        formation, impacting certain asset and liability balances.  These
        adjustments reflect the impact to our investment in MillerCoors,
        which is based upon our contributed assets and liabilities.
    (2) MCBC's net investment in MillerCoors is based on the carrying values
        of the net assets it contributed to the joint venture.  MCBC's
        investment basis in MillerCoors is less than our underlying equity
        (42%) in the total net assets of MillerCoors (contributed by both
        Coors and Miller) by approximately $633.4 million.  This amount is
        being amortized over a period of time represented primarily by the
        remaining useful lives of long-lived assets giving rise to the
        difference.  For non-depreciable assets, such as goodwill, no
        adjustment will be recorded to the MillerCoors equity method income
        unless there is an impairment.
    (3) The net adjustment is to record all stock-based compensation
        associated with preexisting equity awards to be settled in MCBC Class
        B common stock held by former CBC employees now employed by
        MillerCoors and eliminate all stock-based compensation impacts
        related to preexisting SABMiller equity awards held by Miller
        employees now employed by MillerCoors.  The adjustment is to
        recognize the additional 58% of the stock-based compensation costs
        associated with those awards recognized and reported by MCBC's U.S.
        business and eliminate all of the costs associated with equity awards
        to be settled in SABMiller equity.
    (4) MillerCoors Q3 2009 Special Items of $14.7 million, multiplied by
        MCBC's proportionate share of MillerCoors at 42%, equals $6.2
        million. MillerCoors Q3 2008 Special Items of $22.6 million,
        multiplied by MCBC's proportionate share of MillerCoors at 42%,
        equals $9.5 million.
    (5) Included in Equity Income in MillerCoors.  This adjustment represents
        the fair value mark to market component of MCBC share-based
        compensation held by employees of MillerCoors.

    Molson Coors Brewing Company and Subsidiaries
    Table 7:  Condensed Consolidated Statements of Operations
    (In Millions, Except Per Share Data)
    (Unaudited)

                         Thirteen Weeks Ended        Thirty-Nine Weeks Ended
                       --------------------------- ---------------------------
                       September 26, September 28, September 26, September 28,
                           2009          2008          2009          2008
                       --------------------------- ---------------------------
    Volume in
     hectoliters            5.181         5.480        14.082        29.868
                       =========================== ===========================

    Sales                $1,250.3      $1,373.8      $3,234.9      $5,549.5
    Excise taxes           (396.6)       (452.7)     (1,023.3)     (1,514.3)
                       --------------------------- ---------------------------
      Net Sales             853.7         921.1       2,211.6       4,035.2
    Cost of goods sold     (472.6)       (524.4)     (1,251.3)     (2,392.9)
                       --------------------------- ---------------------------
      Gross profit          381.1         396.7         960.3       1,642.3
    Marketing, general and
     administrative
     expenses              (240.7)       (236.8)       (653.3)     (1,136.6)
    Special items, net       (4.3)        (24.8)        (21.6)       (136.1)
    Equity income in
     MillerCoors            101.2         106.5         332.4         106.5
                       --------------------------- ---------------------------
      Operating income      237.3         241.6         617.8         476.1
    Interest expense,
     net (1)                (22.5)        (25.6)        (62.3)        (80.4)
    Debt extinguishment
     costs                      -             -             -         (12.4)
    Other income, net        55.9           7.7          29.1           6.4
                       --------------------------- ---------------------------
      Income from continuing
       operations before
       income taxes         270.7         223.7         584.6         389.7
    Income tax expense      (25.3)        (54.9)        (71.3)        (74.9)
                       --------------------------- ---------------------------
      Income from continuing
       operations           245.4         168.8         513.3         314.8
    (Loss) income from
     discontinued
     operations, net
     of tax                  (9.0)           3.2        (12.9)        (18.1)
                       --------------------------- ---------------------------
      Net income            236.4         172.0         500.4         296.7
    Less: Net income
     attributable to
    noncontrolling
     interests (2)           (1.1)         (0.7)         (2.1)        (11.6)
                       --------------------------- ---------------------------
      Net income
       attributable
       to MCBC             $235.3        $171.3        $498.3        $285.1
                       =========================== ===========================

    Basic income (loss)
     per share:
      From continuing
       operations
       attributable
       to MCBC              $1.32         $0.91         $2.78         $1.66
      From discontinued
       operations
       attributable
       to MCBC              (0.05)          0.02        (0.07)        (0.10)
    Basic net income
     per share              $1.27         $0.93         $2.71         $1.56
    Diluted income
     (loss) per share:
      From continuing
       operations
       attributable
       to MCBC              $1.31         $0.90         $2.75         $1.63
      From discontinued
       operations
       attributable
       to MCBC              (0.05)         0.02         (0.07)        (0.10)
                       --------------------------- ---------------------------
    Diluted net income
     per share              $1.26         $0.92         $2.68         $1.53
                       =========================== ===========================

    Weighted average
     shares - basic         184.6         183.5         184.2         182.3
    Weighted average
     shares - diluted       186.2         185.7         185.6         185.5

    Dividends per share     $0.24         $0.20         $0.68         $0.56
                       =========================== ===========================

    Amount attributable
     to MCBC
      Income from
       continuing
       operations,
       net of tax          $244.3        $168.1        $511.2        $303.2
      (Loss) income
       from discontinued
       operations,
       net of tax            (9.0)          3.2         (12.9)        (18.1)
                       --------------------------- ---------------------------
      Net income
       attributable
       to MCBC             $235.3        $171.3        $498.3        $285.1
                       =========================== ===========================

    Notes:
    (1) On December 29, 2008, we adopted guidance regarding accounting for
        convertible debt instruments that may be settled in cash upon
        conversion (including partial cash settlement) that applies to all
        convertible debt instruments that have a "net settlement feature",
        which means that such convertible debt instruments, by their terms,
        may be settled either wholly or partially in cash upon conversion.
        This guidance requires issuers of convertible debt instruments that
        may be settled wholly or partially in cash upon conversion to
        separately account for the liability and equity components in a
        manner reflective of the issuers' nonconvertible debt borrowing rate.
        The provisions of this guidance were retroactively applied.  As a
        result, $4.0 million and $11.8 million of additional non-cash
        interest expense was recorded in the third quarter and first thirty-
        nine weeks of 2008, respectively.  During the third quarter and first
        thirty-nine weeks of 2009, we recorded $4.1 million and $12.2 million
        of additional non-cash interest expense, respectively.
    (2) On December 29, 2008, MCBC adopted guidance regarding accounting for
        noncontrolling interests in consolidated financial statements, the
        provisions of which, among others, require that minority interests be
        renamed noncontrolling interests and that consolidated net income
        (loss) includes the amounts attributable to such noncontrolling
        interests for all periods presented.

    Molson Coors Brewing Company and Subsidiaries
    Table 8:  Canada Segment Results of Operations
    (In Millions)
    (Unaudited)

                         Thirteen Weeks Ended        Thirty-Nine Weeks Ended
                       --------------------------- ---------------------------
                       September 26, September 28, September 26, September 28,
                           2009          2008          2009         2008(1)
                       --------------------------- ---------------------------
    Volume in
     hectoliters            2.477         2.522         6.642         7.548
                       =========================== ===========================

    Sales                  $653.4        $706.9      $1,689.5      $1,957.8
    Excise taxes           (159.6)       (165.2)       (400.0)       (444.2)
                       --------------------------- ---------------------------
      Net sales             493.8         541.7       1,289.5       1,513.6
    Cost of goods sold     (239.7)       (278.5)       (658.2)       (808.8)
                       --------------------------- ---------------------------
      Gross profit          254.1         263.2         631.3         704.8
    Marketing, general
     and administrative
     expenses              (113.4)       (110.9)       (300.7)       (334.7)
    Special items, net       (3.8)         (3.0)        (12.8)         (4.9)
                       --------------------------- ---------------------------
      Operating income      136.9         149.3         317.8         365.2
    Other (expense)
     income, net             (1.2)         (1.3)           4.3         (0.5)
                       --------------------------- ---------------------------
      Earnings before
       income taxes        $135.7        $148.0        $322.1        $364.7
                       =========================== ===========================

    Notes:
    (1) As a result of the MillerCoors formation on July 1, 2008, and MCBC's
        prospective equity accounting for MillerCoors, sales shown above for
        the thirteen weeks ended September 28, 2008, present MCBC's former
        U.S. segment net sales for a single day of June 30, 2008, and our
        proportional share of net income for the period July 1, 2008, through
        September 28, 2008.  Sales shown for the thirty-nine weeks ended
        September 28, 2008, represent MCBC's former U.S. segment net sales
        for the twenty-six weeks ended June 29, 2008, plus net sales for a
        single day of June 30, 2008, and our proportional share of net income
        for the period July 1, 2008, through September 28, 2008.

    Molson Coors Brewing Company and Subsidiaries
    Table 9:  United States Segment Results of Operations (1)
    (In Millions)
    (Unaudited)

                         Thirteen Weeks Ended        Thirty-Nine Weeks Ended
                       --------------------------- ---------------------------
                       September 26, September 28, September 26, September 28,
                           2009          2008          2009          2008
                       --------------------------- ---------------------------
    Volume in
     hectoliters                -         0.115             -        14.894
                       =========================== ===========================

    Sales                      $-         $14.7            $-      $1,736.4
    Excise taxes                -          (1.8)            -        (231.6)
                       --------------------------- ---------------------------
      Net sales                 -          12.9             -       1,504.8
    Cost of goods sold          -          (7.7)            -        (915.1)
                       --------------------------- ---------------------------
      Gross profit              -           5.2             -         589.7
    Marketing, general and
     administrative expenses    -          (1.2)            -        (413.3)
    Special items, net          -             -             -         (69.3)
    Equity income in
     MillerCoors            101.2         106.5         332.4         106.5
                       --------------------------- ---------------------------
      Operating income      101.2         110.5         332.4         213.6
    Other income, net           -             -             -           2.3
      Earnings before
       income taxes        $101.2        $110.5        $332.4        $215.9
                       =========================== ===========================

    Notes:
    (1) Reflects the formation of MillerCoors on July 1, 2008, and the
        Company's pre-existing U.S. operations prior to July 1, 2008.

    Molson Coors Brewing Company and Subsidiaries
    Table 10:  United Kingdom Segment Results of Operations
    (In Millions)
    (Unaudited)

                         Thirteen Weeks Ended        Thirty-Nine Weeks Ended
                       --------------------------- ---------------------------
                       September 26, September 28, September 26, September 28,
                           2009          2008          2009          2008
                       --------------------------- ---------------------------
    Volume in
     hectoliters            2.552         2.724         7.048         7.894
                       =========================== ===========================

    Sales                  $573.5        $632.4      $1,485.9      $1,859.8
    Excise taxes           (235.0)       (283.6)       (618.3)       (833.5)
                       --------------------------- ---------------------------
      Net sales             338.5         348.8         867.6       1,026.3
    Cost of goods sold     (220.5)       (227.9)       (561.9)       (698.4)
                       --------------------------- ---------------------------
      Gross profit          118.0         120.9         305.7         327.9
    Marketing, general
     and administrative
     expenses               (86.5)        (92.8)       (236.4)       (284.1)
    Special items, net       (0.2)         (0.2)         (7.9)         (5.4)
                       --------------------------- ---------------------------
    Operating income         31.3          27.9          61.4          38.4
    Interest income, net      2.2           2.8           6.3           8.5
    Other expense, net       (1.1)         (0.2)         (2.7)         (2.0)
                       --------------------------- ---------------------------
      Earnings before
       income taxes         $32.4         $30.5         $65.0         $44.9
                       =========================== ===========================

    Molson Coors Brewing Company and Subsidiaries
    Table 11:  Molson Coors International and Corporate Results of Operations
    (In Millions)
    (Unaudited)

                         Thirteen Weeks Ended        Thirty-Nine Weeks Ended
                       --------------------------- ---------------------------
                       September 26, September 28, September 26, September 28,
                           2009          2008          2009          2008
                       --------------------------- ---------------------------
    Volume in
     hectoliters            0.152         0.119         0.392         0.316
                       =========================== ===========================

    Sales                   $23.4         $19.8         $59.5         $51.1
    Excise taxes             (2.0)         (2.1)         (5.0)         (5.0)
                       --------------------------- ---------------------------
    Net sales                21.4          17.7          54.5          46.1
    Cost of goods sold      (12.4)        (10.3)        (31.2)        (26.2)
                       --------------------------- ---------------------------
      Gross profit            9.0           7.4          23.3          19.9
    Marketing, general
     and administrative
     expenses               (40.8)        (31.9)       (116.2)       (104.5)
    Special items, net       (0.3)        (21.6)         (0.9)        (56.5)
                       --------------------------- ---------------------------
      Operating loss        (32.1)        (46.1)        (93.8)       (141.1)
    Interest expense,
     net                    (24.7)        (28.4)        (68.6)        (88.9)
    Debt extinguishment
     costs                      -             -             -         (12.4)
    Other income, net        58.2           9.2          27.5           6.6
                       --------------------------- ---------------------------
      Income (loss)
       before income taxes   $1.4        $(65.3)      $(134.9)      $(235.8)
                       =========================== ===========================

    MillerCoors LLC (1)
    Table 12:  Results of Operations
    (In Millions)
    (Unaudited)

                           Three Months Ended          Nine Months Ended
                       --------------------------- ---------------------------
                       September 30, September 30, September 30, September 30,
                           2009          2008          2009          2008
                       --------------------------- ---------------------------
                                                                      Pro
                           Actual        Actual        Actual       Forma (2)
    Volume in
     hectoliters           21.640        21.881        63.000        63.998
                       =========================== ===========================

    Sales                $2,350.7      $2,293.4      $6,855.8      $6,710.2
    Excise taxes           (341.2)       (343.7)       (993.7)     (1,004.1)
                       --------------------------- ---------------------------
      Net sales           2,009.5       1,949.7       5,862.1       5,706.1
    Cost of goods sold   (1,266.6)     (1,236.9)     (3,618.8)     (3,513.7)
                       --------------------------- ---------------------------
      Gross profit          742.9         712.8       2,243.3       2,192.4
    Marketing, general
     and administrative
     expenses              (496.0)       (519.1)     (1,438.4)     (1,566.2)
    Special items, net      (14.7)        (22.6)        (45.5)       (138.7)
                       --------------------------- ---------------------------
      Operating income      232.2         171.1         759.4         487.5
    Other income, net         2.3           2.3           1.6           7.1
                       --------------------------- ---------------------------
      Income from
       continuing
       operations
       before income
       taxes                234.5         173.4         761.0         494.6
    Income tax expense       (2.3)         (1.9)         (6.9)         (1.9)
                       --------------------------- ---------------------------
      Income from
       continuing
       operations           232.2         171.5         754.1         492.7
    Less: Net income
     attributable to
     noncontrolling
     interests               (2.5)         (3.3)        (13.5)        (13.3)
                       --------------------------- ---------------------------
      Net income
       attributable
       to MillerCoors LLC  $229.7        $168.2        $740.6        $479.4
                       =========================== ===========================

    Notes:
    (1) Economic ownership of MillerCoors LLC is 58% held by SABMiller and
        42% held by Molson Coors.  See Table 5 in the release for a
        reconciliation from MillerCoors net income to Molson Coors equity
        income in MillerCoors.
    (2) The pro forma financial information has been derived from the
        historical financial results of the respective U.S. businesses of
        Molson Coors Brewing Company and SABMiller, giving effect to the
        MillerCoors transaction and other related adjustments.  These pro
        forma results are not necessarily indicative of the results of
        operations that would have been achieved had the MillerCoors
        transaction taken place at the beginning of the pro forma period,
        and do not purport to be indicative of future operating results.

    Molson Coors Brewing Company and Subsidiaries
    Table 13:  Condensed Consolidated Balance Sheets
    (In Millions)
    (Unaudited)

                                                           As of
                                              -------------------------------
                                              September 26,      December 28,
                                                  2009              2008
                                              -------------      ------------
    Assets

    Cash and cash equivalents                     $565.1             $216.2
    Receivables, net                               661.8              635.4
    Inventories, net                               223.7              192.1
    Other, net                                      57.2              63.4
                                              -------------      ------------
      Total current assets                       1,507.8            1,107.1

    Properties, net                              1,251.8            1,301.9
    Goodwill and intangibles, net                5,813.7            5,221.4
    Investment in MillerCoors                    2,588.1            2,418.7
    Other                                          329.8              337.5
                                              -------------      ------------
      Total assets                             $11,491.2          $10,386.6
                                              =============      ============

    Liabilities and equity

    Accounts payable                              $185.4             $170.5
    Accrued expenses and other                     912.4              815.5
    Current portion of long-term debt and
     short-term borrowings                         300.1                0.1
      Total current liabilities                  1,397.9              986.1

    Long-term debt                               1,376.6            1,752.0
    Pension and post-retirement benefits           489.9              581.0
    Other                                        1,192.7            1,028.1
                                              -------------      ------------
      Total liabilities                          4,457.1            4,347.2

    Total MCBC stockholders' equity              7,018.7            6,055.4
    Noncontrolling interests                        15.4              (16.0)
                                              -------------      ------------
      Total equity                               7,034.1            6,039.4
                                              -------------      ------------
      Total liabilities and equity             $11,491.2          $10,386.6
                                              =============      ============

    Molson Coors Brewing Company and Subsidiaries
    Table 14:  Condensed Consolidated Statements of Cash Flows
    (In Millions)
    (Unaudited)

                                                Thirty-Nine Weeks Ended
                                              -------------------------------
                                              September 26,     September 28,
                                                  2009              2008
                                              -------------     -------------
    Cash flows from operating activities:
    Net income                                    $500.4             $296.7
      Adjustments to reconcile net income to
       net cash provided by operating
       activities:
        Depreciation and amortization              135.3              224.4
        Equity income in MillerCoors              (332.4)            (106.5)
        Distributions from MillerCoors             351.5               58.8
        Change in working capital and other, net    12.0              (77.8)
                                              -------------     -------------
        Net cash provided by operating
         activities                                666.8              395.6

    Cash flows from investing activities:
      Additions to properties and intangible
       assets                                      (71.7)            (176.5)
      Proceeds from sales of assets and
       businesses, net                               3.9               35.7
      Acquisition of businesses                    (19.6)                 -
      Investment in MillerCoors, net              (109.2)             (78.8)
      Other, net                                   (29.9)               4.6
                                              -------------     -------------
    Net cash used in investing activities         (226.5)            (215.0)

    Cash flows from financing activities:
      Exercise of stock options under equity
       compensation plans                           25.5               51.6
      Dividends paid to Molson Coors Brewing
       Company stockholders                       (125.8)            (102.2)
      Net repayments of debt                        (0.4)            (163.2)
      Other                                          9.1               (6.2)
                                              -------------     -------------
    Net cash used in financing activities          (91.6)            (220.0)

    Cash and cash equivalents:
      Net increase (decrease) in cash and
       cash equivalents                            348.7              (39.4)
      Effect of foreign exchange rate changes
       on cash and cash equivalents                  0.2               (3.1)
      Balance at beginning of year                 216.2              377.0
                                              -------------     -------------
    Balance at end of period                      $565.1             $334.5
                                              =============     =============

SOURCE Molson Coors Brewing Company

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Fomento Economico Mexicano SAB, Latin America’s largest beverage company, said it’s in discussions “with several parties” regarding its beer business.

There are no assurances the talks will end in a definitive agreement, Femsa, as the Monterrey-based brewer and soft-drink producer is known, said today in a statement. It didn’t name any companies involved in the talks.

Femsa’s American depositary receipts trading in New York jumped 17 percent to $44.40 today after the Wall Street Journal reported the company is negotiating with SABMiller Plc and Heineken NV. The market capitalization of Femsa, the maker of Dos Equis and Tecate beers, was $15.9 billion at today’s close.

SABMiller and Heineken may be interested in buying Mexico’s second-largest beer company, one of a few large independent brewers left in the global industry, to enter one of the most profitable beer markets. Anheuser-Busch InBev NV was formed in December after Belgium’s InBev NV paid $52 billion for the maker of Budweiser.

“The idea is global scale in the beer business,” Mario Gabelli, chief executive officer of Gamco Investors Inc. in New York, said in an interview. “SABMiller realizes that with Anheuser-Busch Inbev, they may want to go to the next step.”

As of June 30, Gamco owned 649,900 of Femsa ADRs, according to data compiled by Bloomberg.

Nigel Fairbrass, a spokesman for London-based SABMiller, declined to comment. Veronique Schyns, a spokeswoman for Heineken, didn’t immediately return a phone message left after regular business hours in Amsterdam.

Profitable Market

Femsa was started by Monterrey’s Garza family in 1890. A merger could value the beer unit at $9 billion, the Journal said.

Mexico’s beer market is highly profitable because Femsa’s only competitor is Grupo Modelo SAB, the maker of Corona, said Jose Miguel Garaicochea, who helps manage 9.7 billion pesos ($705 million) of securities for the Mexican unit of Banco Santander SA. In 2008, Femsa’s beer unit had an operating margin of 13 percent. That compares with 26 percent for Modelo. SABMiller’s margin in the same period was 18 percent while Heineken’s was 8.3 percent.

“Distribution is very important as a barrier to imported beer,” Garaicochea said. “The channels of distribution help. The two big companies in Mexico have them completely under control.”

In the first half of this year, FEMSA had 42 percent of Mexico’s 30.8 million-hectoliter (813 million-gallon) domestic beer market. Modelo had the remaining 58 percent.

2005 Accord

Heineken has sold Femsa’s beer brands in the U.S. since 2005 under a commercial agreement. Femsa sought out Heineken as a partner after it purchased the 30 percent stake InBev owned in Femsa for $1.25 billion in 2004.

Femsa originally sold the stake to Canada’s Labatt Brewing Co. as part of a joint venture to sell beer in the U.S. The partnership soured after Interbrew, the forerunner to InBev, purchased Labatt.

Heineken and Denmark’s Carlsberg A/S jointly acquired Scottish & Newcastle, the Edinburgh-based maker of Foster’s beer and Strongbow cider, for 7.8 billion pounds last year and then broke the company apart. Heineken had costs of 757 million euros ($952 million) in February to write down British, Russian and Indian assets.

In August, SABMiller Chief Executive Officer Graham Mackay said his company has enough financial strength and investor support to make acquisitions. The company paid $5.6 billion for Miller Brewing Co. in 2002.

Unit Growth

Growth of Femsa’s beer business hasn’t kept pace with the company’s Coca-Cola and convenience-store units. In the first half of the year, the beer division had sales of 21.9 billion pesos, accounting for 24 percent of Femsa’s total revenue of 91.3 billion pesos. Coca-Cola Femsa SAB, which became the largest Coke bottler in Latin America with the $3.6 billion purchase of Panamerican Beverages Inc. in 2003, accounted for 51 percent of sales. Oxxo, Femsa’s convenience store chain, had revenue of 25.4 billion pesos.

Combining with a rival brewer would value Femsa at a higher price than the shares reflect, said Gerardo Roman, head of trading at Actinver SA, Mexico’s largest independent money manager.

“If you sum all the parts, they should be above market price,” Roman said.

To contact the reporters on this story: Thomas Black in Monterrey at tblack@bloomberg.net and Hugh Collins in Mexico City at hcollins8@bloomberg.net

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We’re a new company with big ideas and innovations that can create new energy in the American beer business. We have great enthusiasm for the business and tremendous potential to improve it.

We’ll do that through a combination of great brands, talented people, strong partnerships and the scale that our new company brings us.

We’re building a true team of highly talented people who are passionate about the beer business, who love to win and learn, and who aim to amaze every customer by doing the little things that make a big difference.

Currently, we have an opening on our team for a Chain Sales Executive focusing on the Grocery channel.

The Chain Sales Executive role has several different areas of focus which are described below.

• Develop/Maintain Chain Account Plan:
• Annual plan and trimester updates
• Customer priority and opportunity discovery
• Align with class of trade and regional strategy
• Volume and profit forecast
• Develop plan imperatives & needed resources

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The Director, Real Estate will lead the Miller Coors Real Estate (RE) effort with an emphasis on optimizing the Miller Coors real estate portfolio consistent with our 3 year business strategy. This includes developing/leading our real estate portfolio strategy & RE service delivery strategy, leading transaction efforts, and monitoring our holdings. Specifically, this individual will be responsible for:

• Collaborating with business leaders to understand their RE requirements
• Developing portfolio wide and site specific real estate strategies
• recommending which properties/entities we should own sell or lease
• Leading transaction analysis / the effort to dispose of properties/entities
• Establishing and managing our outsourced service provider strategies, in areas including: portfolio strategy, transactions, facility services, and lease administration.
• securing all internal real estate approvals.
• Communicating progress and schedules to the Senior Leadership Team
• working with service providers to create standard transaction and project:
• Processes
• Analysis models
• Documentation
• Managing Real Estate’s annual budget/operating plan
• Managing Miller Coors total occupancy expense
• Overseeing development of common practices in facilities management and administrative services
• Leading and building a world-class facilities and administrative
  services organization

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The Category Management Analyst provides critical analytical support to their assigned chain account(s) teams. This position will focus on the on-premise COT. A key component of Miller Coors. Success with chain customers is the ability to develop insights and deliver against selling opportunities. Identifying these sales opportunities require rigorous analysis and keen insights that this position provides.
The category analyst is also the primary Miller Coors representative to the customer for all category management processes and expertise. This position manages the category management retailer relationship and provides ‘best of class category management services and insights (shopper and business) to achieve category goals of the retailer and Miller Coors.

• Account business analysis

• Insights and opportunity generation

• Volume forecasting and plan Volume Bridge

• Analyze volume impact, ROI of planned programs

• Gap analysis vs. plan, category

• Identify volume, share and profit opportunities

• Collaborate with field to understand retail execution

• Identify AMPPS solutions

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The Manager, Marketing Insights principal duties are to develop and integrate into the business insights that drive marketplace success. While having point accountability for custom marketing research, the Manager, Marketing Insights must also draw from other resources, such as custom research, syndicated databases (Neilsen, MRI, etc.), competitive information sources, and internal resources to develop insights that provide competitive advantage to MillerCoors.

Must be able to interact effectively with senior and junior levels of management in many functional areas, and in presentations and direct relationships with executive management especially the CMO.

Externally, must be able to independently represent the Company’s interests effectively in the design and negotiation of marketing research.

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The Brewery Operations Management Trainee program is a great opportunity for recent engineering graduates to learn the operations of our organization from the ground up, eventually moving into an operations leadership position in one of our breweries.

This position is responsible for learning and applying the critical core aspects of the value chain, to include the industry, MillerCoors, Operations, and their technical function in order to be placed in a Team Leader or Planner/Controller position upon successful completion of the trainee program. The key functions of the position are listed below:

Understands and describes the trends and competitive dynamics of the wine, spirit and beer industry. Can describe the competitive challenges for MillerCoors in the beer industry.

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The Enterprise Security Specialist is responsible to execute activities related to the prevention and investigation of unauthorized access, compliance with data protection and performance of other administrative duties relating to security management as well as the monitoring of organization-wide processes and procedures for the management of risk in all IT activities and projects.

Business Technology Governance and Security
‘Establish MillerCoors security protocols and policies relating to IT infrastructure, assets, personnel and information
‘Identify security risks, threats and vulnerabilities of networks, systems, applications and technology initiatives
‘Assess business impacts of security breaches, asset loss and information unavailability within the MillerCoors technical space
‘Assist in the implementation and governance of the MillerCoors enterprise security strategy and program activities
‘Conduct security control reviews for a full range of control types and techniques, for business applications and computer installations, with respect to threats to the confidentiality, integrity, availability, accountability and relevant compliance of information systems and recommends appropriate action to management.
‘Manage compliance to security policies.
‘Implement application security procedures.

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Built on a foundation of great beer brands and more than 288 years of brewing heritage, MillerCoors continues the commitment of its founders to brew the highest quality beers. MillerCoors is the second largest beer company in America, capturing nearly 30 percent of U.S. beer sales. MillerCoors vision is to become the best beer company in America by driving profitable industry growth. MillerCoors insists on building its brands the right way through brewing quality, responsible marketing and environmental and community impact. MillerCoors is a joint venture of SABMiller plc and Molson Coors Brewing Company.

The Financial Analyst – Forecast & Commercial Planning provides support to various functions within and outside finance for budgeting, planning/forecasting, reporting, and analysis in a variety of areas.
The Financial Analyst will coordinate the development of budgets and margin drivers including revenue, price promotions, consumer incentives, and cost of goods. The Finacial Analyst will analyze and review forecasted and actual cost reporting; consolidate and review budget packages for presentation to senior management; and consolidate monthly financial reporting and review costs and variances. The position will also provide balance-sheet and financial controls oversight, and will supply support and guidance to assigned customer groups.

The Financial Analyst – Forecast & Commercial Planning is accountable for the following:

Accounting, Reporting & Internal Controls Expertise:

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This position is responsible for providing senior general administrative support to Senior Executive. Specifically, some of the key responsibilities will include compilation and production of information for inclusion in reports or presentations and the creation of charts, graphs or tables. This position will also receive and respond to routine and high-level correspondence.

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Manages the employee relations function within the Brewery to include development, planning and implementation of programs directly related to talent management, performance management, recruitment, employee relations, benefits and salary administration. To serve as a liaison between brewery management and employees at all levels. Interprets and administers employment policies and procedures and provides oversight and direction in compliance efforts related to employment law.

Job Responsibilities:
1)Provides oversight and direction for administration of employment activities and policies to ensure company and regulatory compliance. Provides employee relations support, coaching, guidance and direction to management with particular emphasis on the performance management process. Devise and develop effective programs to enhance employee morale and involvement in creating an engaged workforce. Ensure processes and employee-related decisions are consistent with policy and across business areas. Oversee employee relations tactical work including investigating and preparing company response with respect to alleged violations, complaints or claims associated with employment laws.

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