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Coca-Cola raises stake by P3.06B

Republika

Despite the uncertainties brought by the Covid 19 pandemic, Coca-Cola Beverages Philippines, Inc. (CCBPI) is making a bold move that could further raise business confidence in the country.

CCBPI recently announced it is investing $63 million or about P3.06 billion in the country in 2021 to upgrade its factories.


“The USD63 million investment will primarily go to continuing to increase our capacity, specifically this time in Luzon. Last year, we invested heavily in Mindanao because we saw lots of growth potential in Mindanao,” CCBPI president and chief executive officer Gareth McGeown said.


“For 2021, we’re going to invest in more production capacity primarily in our Sta. Rosa, Laguna plant,” McGeown added.


McGeown said the investment is the “first tranche for 2021” as CCBPI is committed to continuing its investments to ramp up its production capacity in manufacturing, upgrading facilities and logistics.


Last month, the beverage firm inaugurated new distribution hubs in Manila and Malabon, as well as its advanced glass bottle manufacturing line in its Davao del Sur plant.

Photo: Facebook


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