Coca-Cola to invest $4bn more in China

NEW in frastructure, partnerships, brand building and sustainability programmes will underline The Coca-Cola Company's commitment to China, as the beverage giant and its Chinese bottling partners announced a new investment of $4 billion over the next three years, commencing 2012.
By the end of 2011, Coca-Cola and partners Swire Beverages Ltd. and COFCO Coca-Cola Beverage Co., Ltd. will have invested more than $3 billion in China  over the last three years, bringing the total investment to $7 billion between 2009 and 2014 in the largest and fastest-growing consumer market in the world.

"China is one of our most important growth markets in the world as we work to achieve our 2020 Vision goal of doubling system revenues and servings this decade. The new investment is a part of our long- term commitment to invest in innovation, partnerships and a portfolio that will enable us to grow our business in a sustainable and responsible way," said Muhtar Kent, Coca-Cola chairman and CEO, during a visit to Shanghai.

In the first six months of 2011, sales in China topped 1 billion unit cases - double the rate sold five years ago when the company first delivered 1 billion unit cases for a full year, Mr Kent also said. Consumption of Coca-Cola products in China now represents approximately 7% of the company's global volume.

In 2011, Coca-Cola China has already opened a new plant in Sanshui (Guandong province), will open another plant in Yingkou (Liaoning province), and break ground on a new plant in Shijiazhuang (Hebei province) later this year, bringing the number of plants the system operates to more than 40 in China employing more than 48,000 people.