Coca-Cola marks 3-year US$4b China investment
Print Edition
MUHTAR Kent, chairman and chief executive officer of The Coca-Cola Company, yesterday officially marked the beginning of a US$4 billion investment plan for the China market between 2015 and 2017.
Commemorated during the groundbreaking of the Coca-Cola system’s 45th local production facility in China, the US$4 billion plan builds on US$9 billion of previous investment made in the country between 1979 and 2014.
“China is our third largest market by volume and is critically important to the future growth of our business,” said Kent. “We are committed to investing here and growing here for the long term. Apart from infrastructure and system capability building, the new investments will focus on enhancing consumer experiences through improved marketing and local activations with our loyal retail partners.”
The Coca-Cola system’s continued local investment demonstrates its confidence in and commitment to the China market. In the coming years, Coca-Cola and its local bottling partners — COFCO Coca-Cola Beverages, Swire Beverages and Coca-Cola Bottling Investments Group China — will each further invest in developing new local infrastructure and capability for growth, including new investments in production, distribution and marketing.
The Coca-Cola Company continued to record volume growth in the China market, with 6 percent growth in the second quarter of 2015. The company’s flagship brand — Coca-Cola — also had robust growth, with volume up double digits in the same period. The recent strong performance in China reflects the system’s ongoing investments in growth.
With a total investment of US$56 million, the new Huabei plant, located in Hebei Province, launched yesterday will be a key production facility in northern China with a total capacity of 250 million unit cases annually, including nine production lines for sparkling and still beverages.
Upon the completion of its first stage of construction in 2017, the new 50,000 square-meter plant will have four production lines, which will add 100 million unit cases to existing annual production capacity in North China.
Following the groundbreaking of a new plant in Changsha, Hunan Province two weeks ago, the new Huabei plant is the second Coca-Cola plant to be built under the new US$4 billion investment.
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