The commitment was conveyed by Coca-Cola Pacific Group president Glenn Jordan directly to the president of the Philippines, Benigno Aquino Jr, during a meeting in New York.
“Our new commitment to invest $1bn in our business over five years will strengthen production, distribution and help development of new products to refresh Filipino consumers,” said Jordan. “This investment is a proof point of our strong commitment to the Philippines, our confidence in the prospects of the Filipino economy and the continued growth of a broader and more affluent middle class in the Philippines.”
Coca-Cola Philippines recorded double-digit growth in the first half of 2010, led by its flagship brand Coca-Cola. The company has also expanded its portfolio of beverages. In the last six months, it has launched ‘Samurai’ energy drink and the ready-to-drink tea ‘Real Leaf’. In addition, the company will expand its ‘Minute Maid’ brand.
Source: The Coca-Cola Company
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