Coca-Cola’s latest pledge further supplements the $2.4 billion it has earmarked for acquiring leading Chinese juice maker, Huiyuan, which is still pending approval from local authorities.
With China now being the third largest market in the world for Coke, the new investment will help fuel future growth of the company and capitalise on opportunities with greater speed, according to a statement from the company.
Following the opening of a $90 million state-of-the-art manufacturing plant in Shanghai to expedite new product development to suit local tastes, Muhtar Kent, president and CEO of the Coca-Cola Company, said: “Coca-Cola is proud to be a long term partner of China, and our commitment and confidence in China never wavers.”
“In addition to the $1.6 billion we have already invested in China since our return in 1979, the Coca-Cola Company will continue to invest another US$2 billion in the next three years in terms of new plant and distribution infrastructure, sales and marketing, and R&D.”
A Coca-Cola spokesman was unable to comment on which brands and areas its latest investment would affect or focus on.
At the end of 2008, Coca-Cola appointed BBH as creative agency for its Minute Maid juice brand and had recently shifted creative duties for its Sprite brand from Ogilvy to BBH as well.
With China now being the third largest market in the world for Coke, the new investment will help fuel future growth of the company and capitalise on opportunities with greater speed, according to a statement from the company.
Following the opening of a $90 million state-of-the-art manufacturing plant in Shanghai to expedite new product development to suit local tastes, Muhtar Kent, president and CEO of the Coca-Cola Company, said: “Coca-Cola is proud to be a long term partner of China, and our commitment and confidence in China never wavers.”
“In addition to the $1.6 billion we have already invested in China since our return in 1979, the Coca-Cola Company will continue to invest another US$2 billion in the next three years in terms of new plant and distribution infrastructure, sales and marketing, and R&D.”
A Coca-Cola spokesman was unable to comment on which brands and areas its latest investment would affect or focus on.
At the end of 2008, Coca-Cola appointed BBH as creative agency for its Minute Maid juice brand and had recently shifted creative duties for its Sprite brand from Ogilvy to BBH as well.
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