Czech beer Budvar hits production record in 2016

Markets Associated Press

Production of Budvar beer, which has been embroiled in a lengthy legal dispute with U.S. giant Anheuser-Busch over the use of the "Budweiser" brand, reached a record in 2016.

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Budejovicky Budvar NP, a Czech state-owned brewery, said Friday that its output rose 0.8 percent to 1.615 million hectoliters (42.66 million gallons) of beer, the highest volume in its 120-year history. It did not disclose exact export figures but said it sells about 60 percent of its production abroad.

The brewery says it's been close to reaching its production capacity since 2015 and is investing 2 billion Czech crowns ($79.5 million) to expand output to up to 2 million hectoliters a year.