Coca-Cola has announced that it will invest $1bn over the next four years in its Argentinian bottling and distribution operation.
The money will be used for the development of Coca-Cola’s infrastructure inside the country, including the construction of a new bottling plant in northern Argentina and two new distribution centres. It will also launch new environmental initiatives and encourage consumers to take part in more physical activity.
The Argentinian government revealed yesterday that Coca-Cola CEO Muhtar Kent had disclosed the company’s plans to the country’s new president, Mauricio Macri, at the World Economic Forum in Davos, Switzerland. Since taking office in December, President Macri has “dismantled capital controls and unified the country’s currency exchange rate”, Reuters reported, in a bid to encourage inward investment in his country.
Muhtar Kent told Argentina’s president of the plans at the World Economic Forum. © World Economic Forum/Christof Sonderegger
Macri described his meeting with Coca-Cola and other manufacturing companies in Davos as “very productive”.
“There is much acceptance and interest in this new era that has begun in our country,” he told Argentina’s national news agency, Telam.
The soft drinks manufacturer currently employs around 8,000 people in Argentina and, according to the company’s spokesperson in the country, wasn’t opposed to the idea of buying a local firm in order to bolster its market presence.
“At this time we do not rule out acquiring a local company in the non-alcoholic drink sector,” Francisco Do Pico told reporters.
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