RUSSIA: The Coca-Cola Co pledges Russia investment
To date, the companies of the Coca-Cola system have invested $3bn in Russia
The Coca-Cola Co has said that it plans to spend US$3bn in Russia over the next five years.
The soft drinks firm will begin the investment programme with its bottling partner Coca-Cola Hellenic in 2012. The announcement was made at the opening of a Coca-Cola plant in the Rostov region of Russia today (26 September).
"We continue to invest in Russia to create jobs and stimulate growth across our supply chain," said The Coca-Cola Co's chairman and CEO, Muhtar Kent. "Today's announcement underscores the Coca-Cola system's long-term strategy of investing in Russia."
To date, the companies of the Coca-Cola system have invested $3bn in Russia. The Rostov site, which has a production capacity of 450m litres of beverages per year, cost around $120m to build.
The opening of the facility was supported by the launch of a limited edition Coca-Cola can bearing the logo for the 2014 Olympic Winter Games, to be held in Sochi on Russia's Black Sea coast.
A year ago, Coca-Cola acquired Russian juice producer Nidan, but PepsiCo's purchase of Wimm-Bill-Dann, Russia's biggest food and beverage company, earlier this year, gave PepsiCo the lead in Russia's juice and dairy market.
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