Coca-Cola to Invest $1 Billion in Philippines
September 28, 2010
Coca-Cola Co has committed to increase investments in the Philippines by $1 billion over five years to strengthen operations there, reports Reuters. "Our new commitment to invest $1 billion in our business over five years will strengthen production, distribution and help development of new products," Glenn Jordan, Coca-Cola Pacific Group president, said in a statement. The announcement was made in conjunction with Jordan meeting with Benigno Aquino, president of the Philippines, in New York. Coca-Cola is building a large bottling facility in Misamis Oriental in the Philippines that is scheduled to begin operations next year. The company''s Philippine business saw double-digit growth in the first half of the year. Coca-Cola, which operates 23 plants and 42 sales offices with more than 7,800 employees across the Philippines, said the new investment will focus on marketing and system logistics and delivery capabilities in order to better serve its expanding customer base.