Coca-Cola to invest US$4b
By Richard Fu |
August 19, 2011, Friday
|
Print Edition
Print Edition
COCA-COLA Co plans to invest US$4 billion more in China over the next three years from 2012, as the world's largest soft-drink producer taps the fast-growing market.
The plan will bring the total investment by Coca-Cola and its China bottling partners to US$7 billion between 2009 and 2014, the Atlanta-based company said yesterday.
"China is one of our most important growth markets in the world," Chairman and CEO Muhtar Kent said in a statement. He added that the company intends to use the new investment to help enhance consumer experience and build brand loyalty to ensure that growth will be sustainable.
Other global food and beverage makers from McDonald's Corp to Nestle SA are also boosting investment in China, where retail sales rose 17.2 percent in July from a year earlier according to official data.
Nestle, the world's largest food company, last month said it would buy 60 percent of Chinese confectionery maker Hsu Fu Chi International Ltd for US$1.7 billion. It acquired a controlling stake in China's Yinlu Foods Group earlier this year.
Coca-Cola said its sales in China of 1 billion unit cases in the first half of the year doubled what it sold five years ago.
Coca-Cola opened a new plant in Guangdong Province this year, will open another one in Liaoning Province and break ground on a third in Hebei Province later this year. Kent said the three new plants' investment totaled US$230 million. The company opened five plants in China in 2009 and 2010.
Kent also said Coca-Cola would be interested to list on the Shanghai Stock Exchange's proposed international board.
The plan will bring the total investment by Coca-Cola and its China bottling partners to US$7 billion between 2009 and 2014, the Atlanta-based company said yesterday.
"China is one of our most important growth markets in the world," Chairman and CEO Muhtar Kent said in a statement. He added that the company intends to use the new investment to help enhance consumer experience and build brand loyalty to ensure that growth will be sustainable.
Other global food and beverage makers from McDonald's Corp to Nestle SA are also boosting investment in China, where retail sales rose 17.2 percent in July from a year earlier according to official data.
Nestle, the world's largest food company, last month said it would buy 60 percent of Chinese confectionery maker Hsu Fu Chi International Ltd for US$1.7 billion. It acquired a controlling stake in China's Yinlu Foods Group earlier this year.
Coca-Cola said its sales in China of 1 billion unit cases in the first half of the year doubled what it sold five years ago.
Coca-Cola opened a new plant in Guangdong Province this year, will open another one in Liaoning Province and break ground on a third in Hebei Province later this year. Kent said the three new plants' investment totaled US$230 million. The company opened five plants in China in 2009 and 2010.
Kent also said Coca-Cola would be interested to list on the Shanghai Stock Exchange's proposed international board.
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