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Chile's Concha y Toro to invest $40 mln in 2010
April 26, 2010 / 11:56 PM / 8 years ago

Chile's Concha y Toro to invest $40 mln in 2010

SANTIAGO, April 26 (Reuters) - Chile’s leading wine exporter, Concha y Toro said on Monday it would invest $40 million in 2010 on planting new vines and increasing its storage capacity, after a massive earthquake in February damaged some of its installations.

Concha y Toro, CHT.SN (VCO.N), which also operates in Argentina, said it also would focus on normalizing operations.

The winemaker lost 22.8 million liters of wine, or around 10 percent of inventories held by the end of February, due to the quake, which killed hundreds of people, caused an estimated $30 billion in damage to the economy and hammered south-central Chile’s wine, wood pulp, fruit and fishing industries. (Reporting by Antonio de la Jara; editing by Carol Bishopric)

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