Categorized | Non-Alcoholic

PepsiCo to invest $2.5bn in China

PepsiCo is to invest $2.5 billion (£1.7 billion) in its food and beverage businesses in China over the next three years.

The new spending is in addition to the $1 billion investment that the company announced in 2008, which will be completed this year.

PepsiCo will allocate the money to a variety of projects, including new manufacturing facilities, research and development operations and brand-building initiatives.

“This investment reflects very clearly our great confidence in China and our long-term commitment to this very important, growing market,” said PepsiCo chairman and chief executive officer Indra Nooyi.

The company plans to open between ten and 12 new plants in China to manufacture soft drinks, non-carbonated drinks and snacks.

Current beverage offerings include Tropicana Guo Bin Fen juices and Cao Ben Le drinks.

PepsiCo recently announced solid financial results for the first quarter of 2010, including double-digit gains in both revenue and core constant currency operating profit.

Sunday, April 23, 9:38 pm

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