Coca-Cola Plans to Invest ₱3 Billion in Luzon Operations

The Coca-Cola Company plans to invest ₱3 billion ($63 million USD) in its Philippines operations.

Coca-Cola Beverages Inc. (CCBPI), the local bottling partner, will invest in improving production capacity in Santa Rosa, Canlubang as well as in logistics and returnable glass systems.

Gareth McGeown, CCBPI President and Chief Executive Officer, said “This is our first tranche of investment into 2021, coming from over $90 million that we spent last year,”

“Assuming that the business continues to progress and do well, we will be asking for more investments to continue to build capacity and capability across our system. The majority of them do go to production capability and capacity, mainly in our manufacturing sites,” McGeown added.

Antonio V. Del Rosario, Jr., Coca-Cola Philippines president and vice-president of franchise operations for Coca-Cola East Region, said “When you look into 2021, we are gonna grow the investments around our brands well ahead — double-digit versus the prior year — in the belief that you invest now, you will come out and emerge stronger,”

“Our peg is to make sure that in 2021, we are back to kind of pre-COVID levels, looking at 2019, and that will obviously show that we would be growing. It is a difficult target, but one that we believe we’re gonna be able to do,” Del Rosario added.

Source: BusinessWorld