VIETNAM: Coca-Cola Co silent on Tan Hiep Phat Beverage tie-up
The company said recently that it plans to pump $300m into Vietnam in the next three years
The Coca-Cola Co has declined to comment on a report that it is among “several” international drinks firms interested in a JV with Vietnam's Tan Hiep Phat Beverage Group.
A report in the Wall Street Journal this week has suggested that the Vietnamese company is looking for foreign investment to boost its beer and soft drinks business. "We are looking for a foreign investor because we need a professional management team for our brewing operations," chairman Tran Qui Thanh was quoted as saying.
He told the WSJ that "not enough resources have been put into the beer business, which hasn't operated to full capacity." The group's herbal tea sales have overtaken its beer sales, according to latest figures.
Tan Hiep Phat has received interest for a JV from several international drinks companies, including Coca-Cola Co, according to its chairman.
However, when contacted by just-drinks today (6 Novemebr), a Coca-Cola spokesperson declined to comment on the claim.
Last month, the company said it has lined up a further US$300m to spend in Vietnam in the next three years.
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