PepsiCo to invest another $2.5 billion in China
May 21, 2010
SHANGHAI — PepsiCo, Inc. has announced it will invest another $2.5 billion in China during the next three years. This is in addition to the $1 billion investment the company announced in 2008.
“I am delighted to announce that over the next three years we expect to invest $2.5 billion in our food and beverage businesses in China,” said Indra Nooyi, chairman and chief executive officer. “This investment reflects very clearly our great confidence in China and our long-term commitment to this very important growing market. We look forward to continuing to evolve our business in China and offer Chinese consumers a full portfolio of foods and beverages ranging from soft drinks and juices to oatmeal and savory snacks.”
The company has plans to open 10 to 12 new plants in China to manufacture soft drinks, non-carbonated beverages and snacks. The company also will install additional production lines at existing facilities. The investment will be used to improve research and development operations, expand agricultural development and brand-building initiatives. There are also plans to broaden the portfolio of Chinese-designed and developed products.