US: Coca-Cola Co to boost US investment - report
Coca-Cola is to boost its investment in the US
The CEO of The Coca-Cola Co has said the company will increase investment in the US next year to top the $3bn it has spent in 2011, according to a report.
In a televised interview with Bloomberg on Friday (9 December), the firm's CEO, Muhtar Kent, said that Coca-Cola is investing in the US, which in turn is expected to create jobs. Coca-Cola's North America volume sales have improved in 2011, growing 5% for the year to the end of September, according to the company's recent nine-month results.
Kent also talked about the outlook for Europe's recovery from the sovereign-debt crisis. He told Bloomberg that European recovery could take as long as four years and commended leaders, including French President Nicolas Sarkozy and German Chancellor Angela Merkel, for "not allowing the region's economy to implode".
"At the moment it is such a serious issue that you just cannot let it implode," Kent told the publication. "If it really did implode it would challenge the whole world, but I don't think it will."
This is the second investment announcement for Coca-Cola in the last few months. In November, Coca-Cola pledged a $2bn investment in India over the next five years, equalling what the company has spent in the past 18 years in the country.
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