The actual visible liquid in this is water. Water was off-topic. A beer factory is not liquid, even if it produces it. The bright red border is very distracting. The photo is fine in terms of focus but as it's of a muddy river and a factory it doesn't do much for me attractiveness.
Snow melt is water.... but if you wanted to hint that is was beer, or an ingredient in beer, I suppose a different point of view or concept might work better. As it is, this is a river of water near a building, even with your title. All that aside, I think this image works. The river acts as leading lines, taking our eye to the building and finally ending with the COORS sign.
Challenge is not met here, as the liquid shown is water (the challenge specifically said NOT water). However, the concept is understood, and the pic isn't bad.
Only occassionally does a border make a picture less pleasing to look at - but that's what is going on here. I see the Coors and get the "liquid" connection, but your pic of liquid is one of water.
At the moment, it's water, and the challenge said NOT water. Go stand at the other end of the plant and photograph the beer. ;) I like the movement in the composition, though.
Funny...I find the power lines and signs in the water to be distracting. What do those signs say anyway? Also, I don't think the picture really needs a border. On the whole, the picture really doesn't interest me.