Foster's Group Says Savings, Improvements at Treasury Wine Are `On Track'

on 23/10/10 at 4:57 pm

Industry

Foster’s Group Ltd., Australia’s largest brewer, said it is “on track” with targeted savings and quality improvements in its Treasury Wine Estates unit as the company prepares to spin off the business next year.

The unit has cut costs for packaging, warehousing and bottling, David Dearie, head of Australian wines at the Melbourne-based brewer, said today in Sydney. The company is targeting A$100 million ($98 million) of annual savings by June.

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