Diageo is conducting the six month review which, when completed, could result in major consolidation of the group’s operations into one of two strategic locations.

In addition to Waterford, Guinness has key city-centre brewing locations in Dublin, Kilkenny and Dundalk.

It also has a number of sites in Northern Ireland including the Bushmills distillery.

The Waterford brewery at Mary Street has been in existence for over 200 years. An investment of 40m, which represented one of the largest private investments ever made on a single site in Waterford, was completed in 2004 and the state-of-the-art special ingredient plant to produce Guinness Flavour Extract, the essence of Guinness, was officially opened by the then Tanaiste, Mary Harney.

The essence is exported to the 50 countries where Guinness is brewed.

The facility was secured for the city after an extensive review by Diageo Global Supply of potential locations involving both existing and new global sites.Speaking at the opening, the then ‘Tanaiste said, “This type of high-end investment will copper-fasten Diageo’s presence in Waterford well into the 21st century.

As sales of Guinness in far-flung locations continue to grow in the years ahead, it is to be hoped that production here in Waterford will continue to expand.”

Back then Diageo said that, at full production, the plant would have the capacity to produce the special ingredient for 550 million pints of Guinness per annum.

Commenting on the strategic review, this week a spokesman said the review was “about investment and securing the future for brewing in Ireland.”

In a statement, the company said it was considering a number of important investment decisions on upgrading and renewing its brewing facilities in Ireland in the coming years.”

“No decisions have been made or will be made until the assessment is completed,” the statement added.

Marion O’Mara