CHILE: Andina lines up US$80m investment
Embotelladora Andina has earmarked US$80m for upping its distribution and logistical presence in South America.
The Chile-based Coca-Cola bottler confirmed today (18 April) that the investment will go towards "operational purposes" during the course of this year. Speaking to just-drinks, a spokesperson for Andina said that the $80m will be split between its home market, which will benefit to the tune of $50m, Brazil ($20m) and Argentina ($10m).
The figures were announced at the company's shareholders meeting yesterday.
"The funds will be used for operational purposes, such as market assets like bottles and cold equipments," the spokesperson said. When asked if any of the investments would be used for acquisitions, the spokesperson said: "We have no potential acquisitions in mind in the short-term. We're not assigning any of the $80m to future acquisitions."
Earlier this year, Andina posted a 30% leap in net income for 2006, to $139.7m. While, in volume terms, sales registered a 6.6% rise on the year to 415.1m unit cases, sales value increased by 14.8% year-on-year to $1.02bn.
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