PepsiCo investing $1 billion in China
November 03, 2008
by FoodBusinessNews.net Staff
BEIJING — PepsiCo, Inc. has announced it plans to invest $1 billion in China during the next four years as a part of a strategy to expand in emerging markets and broaden its portfolio.
"I am delighted to announce that over the next four years we plan to invest $1 billion in our beverage and food businesses here in China," said Indra Nooyi, chairman and chief executive officer. "This is our largest investment in China in the nearly 30 years we have been doing business here, and it is consistent with our broader global strategy of investing in high-growth developing markets."
The investment will go toward major capital programs to expand manufacturing capacity, as well as efforts to expand local research and development facilities, build its sales force, broaden product distribution, fund brand-building initiatives and new product development.
The company also said expanding sustainability efforts in the country will be a focus of this investment.
"We are enormously confident in the continued prosperity of China," Ms. Nooyi said. "We look forward to building an even brighter future here."