Beverages giant Coca-Cola Co. (KO) said Tuesday it will invest US$1 billion in Philippines over five years, aiming to strengthen production, distribution and help development of new products.
The investment was announced by Coca-Cola Pacific Group President Glenn Jordan directly to the President of the Philippines, Benigno Aquino, Jr., during a meeting in New York. President Aquino, Jr. was in the United States to attend the United Nations General Assembly and to attract foreign investors to the Philippines.
The company pointed out that it will focus its new investment on strengthening marketing execution and enhancing system logistics and delivery capabilities.
Jordan said, "Part of the new investment will also help expand the reach of our corporate social responsibility initiatives benefitting the local communities."
Coca-Cola noted that Jordan shared some of the company's positive developments in Philippines during the meeting, including the ongoing construction of a mega bottling facility in Misamis Oriental. The plant is scheduled to begin operations next year. This will be one of the largest plants in the region and is expected to generate significant employment opportunities in the area.
Coca-Cola, which operates 23 plants and 42 sales offices with over 7,800 direct employees across the Philippines, recorded double digit growth in the first half of 2010 in the country, led by its flagship brand Coca-Cola. The company has also expanded its portfolio of beverages.
Coca-Cola has been present in the country since the start of the 20th century and has been locally produced since 1912.
In another development, Coca-Cola Monday said that both the U.S. Federal Trade Commission and Canadian Competition Bureau cleared its proposed acquisition of the North American operations of Coca-Cola Enterprises (CCE), subject to certain firewall protective measures with respect to its new distribution agreements with Dr Pepper Snapple Group (DPS).
The completion of the acquisition remains subject to the receipt of approval by CCE shareowners, who are scheduled to vote on October 1.
KO is currently trading at $58.55, down $0.05 or 0.09%.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.