Coca-Cola to invest $1 billion in the Philippines
September 28, 2010
by Keith Nunes
MANILA, PHILIPPINES — The Coca-Cola Co. plans to invest $1 billion in the Philippines during the next five years. The company, which operates 23 plants and 42 sales offices with more than 7,800 direct employees across the Philippines, said it will target the new investment on strengthening marketing execution and enhancing system logistics and delivery capabilities in order to better serve the region’s consumer base.
Coca-Cola’s Philippines regional business recorded double-digit growth in the first half of 2010, led by the Coca-Cola brand. The company also has expanded its portfolio of beverages. In the last six months it has launched Samurai brand energy drink and the ready-to-drink tea branded as Real Leaf. In addition, the company is expanding its Minute Maid brand.
“Our new commitment to invest $1 billion in our business over five years will strengthen production, distribution and help development of new products to refresh Filipino consumers,” said Glenn Jordan, president of Coca-Cola’s Pacific Group. “This investment is a proof point of our strong commitment to the Philippines, our confidence in the prospects of the Filipino economy and the continued growth of a broader and more affluent middle class in the Philippines.”