Coca-Cola plans to invest another $500M in PHL NewsTop Newsby Roderick Abad - November 9, 2014 COCA-COLA Femsa will invest another $500 million in its Philippine operations by 2015, rounding up to $1.7 billion its total investments in just three years. “[That amount is] a combination of our investments in the market represented in bottles, coolers, cases, marketing investment, as well as the growth of our manufacturing infrastructure, warehouses and distribution centers across the country,” said Juan Dominguez, corporate affairs director for Coca-Cola Femsa Asia Division. Following last week’s inauguration of its $95-million Coca- Cola Femsa Philippines Canlubang Manufacturing Facility in Laguna, the executive said they intend to grow their distribution network in the Visayas and Mindanao and, at the same time, develop their markets in sari-sari and retail stores. “It will be focused in the Zamboanga, General Santos City, Davao, Cagayan de Oro and Misamis Oriental areas,” he said. “We have already reopened our facilities in Tacloban and we are working around Cebu. [Next year’s expansion] will be focused in Bacolod and Iloilo.” Coca-Cola Femsa began its operations in the country after the acquisition of Coca-Cola Bottlers Philippines for $688.5 million in January of 2013. Since then, the firm has launched new packages led by Coca-Cola Mismo and expanded its existing product portfolio, including the launch of Minute Maid Fresh and Wilkins Pure. The beverage giant also improved its distribution network and created over 2,000 new jobs, bringing total employment to more than 8,000 and the operations of 22 plants and 47 sales offices nationwide. “As we grow our road to market expansion, we will hire people across the Visayas and Mindanao that should imply a generation of 1,000 more direct employees by the end of next year,” Dominguez said. What’s more, the company also increased its production capacity by upgrading its Misamis Oriental Plant with the installation of two new PET (bottling) lines, acquisition of a manufacturing facility in Davao del Sur, and the rehabilitation of the recently reopened Tacloban Plant that was damaged by Supertyphoon Yolanda (international code name Haiyan) late last year. These developments cost Coca-Cola Femsa over $511 million and come on top of around $700 million with the acquisition of 51 percent of Coca-Cola Philippines last year, or a total of $1.2 billion committed to date. Dominguez said they will keep on investing in the Philippines to expand both its geographical presence and their product portfolio. “While we continue with our efforts toward nation-building and expand our reach to other underserved communities in the country, we will continue to explore expansion opportunities,” he said.
Posted on: Mon, 10 Nov 2014 00:29:00 +0000
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