Coca-Cola is paying $90 million for a 30% stake in the company, sources told Market Watch, though those numbers have not been confirmed.
Advertisement
Since 2010, with $1.5 billion as capital expenditures, it has expanded its Canlubang, Laguna plant and its two other plants in Misamis Oriental and Tacloban. Part of the reason why this investment is taking place is because the Philippines is one of the healthiest, fastest growing economies in Asia.
“We’re currently in a $1.2-billion (investment) program between now and 2020 in the Philippines”.
He said the investment enhanced its distribution network and created over 2,000 new jobs for Filipinos.
“Our preference would be to find another place in Mitchell to set up shop, but we haven’ gotten that far yet”, Chesterman said. “(The government) has been most impressive, and most friendly to business”.
Blair suggests that, while calories are certainly an issue, they can be easily offset – just burn more than you consume.
U.S. Sen. Richard Blumenthal, D-Conn., wrote Tuesday to three university presidents, urging them to make public any grant arrangements between their schools and the The Coca-Cola Company.
Whether it’s a “Coke and a smile” or ‘the real thing, ‘ Chesterman’s employees are hard at work, making sure there’s always Coca-Cola.
“The guys have been busting their backsides trying to get things back in order, get things started in terms of, setting up communications, getting product out, and trying to service our customers as best as we can”, Chesterman said.
Coca-Cola chairman and chief executive officer Muhtar Kent met with President Aquino to emphasize the valuable role of the Philippine market in helping the company achieve unprecedented growth in recent years.
In a statement Wednesday, Coke said Suja “will nicely complement our broad portfolio” and that it plans to use its unmatched distribution system to expand its availability.
Advertisement
“We are really proud of our relationship with the Filipino people over the 100 years we’ve been here. So clearly, there is a great common values system between the consumer of the Philippines and our brands at Coca-Cola”, Singh said.
