Molson Coors Brewing Company is a company that was created by the merger of two of North America's largest breweries: Molson of Canada, and Coors of the United States, on February 9, 2005. The Canadian subsidiary of Molson Coors Brewing Company is a part-owner of Brewers Retail Inc., operator of Ontario's The Beer Store retail chain.According to the Molson Coors website, Molson Coors Brewing Company is the fifth-largest brewer by volume with 42.1 million U.S. beer barrels (30.2 million U.K. barrels; 49.4 million hL) sold in 2006.The company's binational nature has caused several sources in both the U.S. and Canada to claim the company is now controlled by interests in the other country.In fact, while the company is incorporated in the United States,the company is traded on stock exchanges in both countries,and control is equally shared between the Molson and Coors families.The company is headquartered in Denver, CO and Montreal, QC.On October 9, 2007, SABMiller and Molson Coors Brewing Company announced a joint venture to be known as MillerCoors for their U.S. operations that will market all of their products.On February 2, 2011 the company purchased Sharp's Brewery in Cornwall, UK for around £20 million.On May 26, 2011 7th generation family member Andrew Molson succeeded Pete Coors as acting Chairman.The 2005 members of the board of directors of the company are: Francesco Bellini, John Cleghorn, Peter Coors, Melissa Coors, Charles Herington, Franklin Hobbs, Leo Kiely, Gary S. Matthews, Andrew Molson, Eric Molson, David O'Brien, Pamela Patsley, and Sanford Riley.The Molson Coors Brewing Company conducted a complete, comprehensive, and voluntary investigation of its pollution and environmental emissions. Coors was not violating the Clean Air Act but was encouraged by the Environmental Audit Privilege and Voluntary Disclosure Act which immunizes and credits organizations for conducting self-environmental audits. These audits catch what the government does not and grant immunity from environmental regulation fines.The United States government had thought that Coors was a minor violator of emitters like volatile organic compounds (VOCs), but the investigating proved otherwise. It revealed Coors to be 17 times over the estimated value of emissions. Molson Coors then provided the audit results to the Colorado Department of Health which culminated in a $1.05 million fine for the 189 violations of state pollution laws—of which Coors and the United States government had no idea.Although Molson Coors said they did not know about volatile organic compounds they were emitting, they do claim to be environmentally aware. Coors invented a new printing technology technique which uses ultra-violet light to cure the print. This innovation is more environmentally sound than the traditional gas firing technique.
Net income $720 million