When the coronavirus first made headlines, rumors circulated that profits for Corona beer had seemingly slowed over the similar names — turned out profits actually jumped. But, now the company is set to face a real loss, as they halt production in Mexico.
Grupo Modelo, the manufacturing company for Corona, Pacifico and Modelo, announced they’d be temporarily suspending production after the Mexican government deemed breweries non-essential.
The statement also says, “In the event that the federal government considers it opportune to issue a guarantee confirming beer as an [essential] agro-industrial product, at Grupo Modelo we are ready to execute a plan with more than 75 percent of our staff working from home and at the same time guaranteeing the supply of beer,”
As mentioned previously, sales for the beer jumped after news broke of the virus; with the company claiming sales went up 5 percent in late February.
Furthermore, the manufacturing group also noted that they’ve already donated some odd 300,000 bottles of hand sanitizer, headed to hospitals and medical centers for staffers manning the frontlines of the virus crisis.