While reporting its fourth-quarter financial results today, Molson Coors Brewing Co. (TAP,TAP-A, TPX.TO) said it is increasing its three-year cost savings target to $600 million of all-in savings to be delivered by 2019, due to the increased delivery of cost savings in 2017.
For the two remaining years of the program, the company's cost savings targets are $210 million in 2018 and $135 million in 2019, which reflects the acceleration of some savings into 2017 and 2018.
Further, the company said it is reducing its anticipated one-time costs to capture synergies to $250 million over the three-year savings program, down from $350 million previously. This new target is expected to be about 60 percent non-core operating expense and 40 percent capital spending.
by RTT Staff Writer
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