Interbrew's also owns Stella Artois
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The owners of the Bass Brewery in west Belfast are to put its manufacturing facility on the market.
They have warned that it could close if they do not find a buyer.
Up to 80 jobs would go if brewing were to cease on the Glen Road site.
Interbrew said the decision had been taken following the ending of a long-term contract to bottle soft drinks at the plant.
The company said it was willing to offer any purchaser a long-term contract to produce beer for the Irish market.
In total the company employs close to 300 people in Northern Ireland.
David Randall, supply chain director of the company, said: "We believe an independent manufacturer will be better placed to utilise the facilities and attract other production volume, and in addition to have the flexibility to produce other brands and packaging formats.
"Any sale will be conditional on manufacturing remaining at the Ulster Brewery and it is our intention to conclude the sale process by September 2004."
If there was no sale, the manufacturing facility would have to close by early 2005, said the company.
However, other operations on the site and a sales and distribution depot in Omagh, County Tyrone, would be unaffected, it said.
The brewery was founded in 1897 and brews and kegs Bass and Tennent's Lager, and kegs Stella Artois.
"Tennent's Lager and Stella Artois are gaining market share and are well on their way to hitting their annual volume targets," said Mr Randall.
West Belfast MP Gerry Adams said he was angry at the announcement.
"I, along with party colleagues, have been involved in discussions with the management of Interbrew as well as Trade Unions at the plant over recent months," he said.
"The Glen Road brewery is a profitable operation and is the largest private employer in west Belfast. Our focus must now be on finding a buyer for the brewery and securing these vital jobs."