Diageo PLC will spend & 520-million ($1-billion) on a new brewery on the edge of Dublin. The London-based beer and spirits maker said yesterday it will renovate its historic, central Dublin brewery at St. James's Gate to supply Guinness drinkers in Britain and Ireland, but it will close two smaller breweries by 2013 and cut its Irish brewery work force by more than half. In five years time, when the new brewery opens and smaller ones at Kilkenny and Dundalk are closed, Diageo says its Irish brewing work force will be cut by 250 from its current 450. Chief executive officer Paul Walsh said the move had been prompted by efficiency gains and also to meet the growing export demand for Guinness. DGE (London) rose 13 pence to & 10.41 ($20.44).
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