Philippines: Coca-Cola Femsa to invest $800 million by 2020
Coca-Cola Femsa has announced plans of shareholder investment of $800 million into the expansion of its operations in the Philippines, according to a report in FoodBev.
The company said that it would add two new Tetra Pak and two new PET lines with an initial investment of $170 million in 2016.
The move is designed to widen the company’s presence in the ‘on-the-go’ space, alongside the introduction of a new 400ml product to their range.
Coca-Cola Femsa Philippines chief executive Fabricio Ponce is reported as saying: “We are trying to go to places where we need to improve our presence. We are trying to have different price points, [because] for that reason we have very good performance last year”.
“This company in 2014 lost money and now [we will] turn it around and make it successful and generate more value… Our shareholders will reinvest all profits and they are [looking to invest] $800 million up to 2020. Our strategy is to be able to create more value and reinvest”.