Manila (Philippine Daily Inquirer/ANN) - One of the biggest foreign investments snared so far by the administration of Philippine President Aquino is about to bear fruit with the impending completion of Coca-Cola's bottling plant in the province of Misamis Oriental.
According to officials of Coca-Cola Bottlers Philippines Inc., the facility-one of the largest in the region and rivaling its main facility in Sta. Rosa, Laguna, in size-was the centerpiece of the US$1-billion investment program committed by the company to the government during the President's US visit last year.
Part of the resources used for the purchase of the 11-hectare property in the town of Villanueva and the construction of the facilities came from the initial investment committed through former President Arroyo in 2009.
The rest, including the purchase of machinery and equipment, as well as employee training, were taken from the fresh investment last year.
"The construction of our Villanueva Plant in Misamis Oriental is on track and should be operational in a couple of months," said Coca-Cola's country CEO Bill Schultz. "This will be one of our largest plants in the region and is expected to generate significant employment opportunities in the area."
According to the Coca-Cola official, the Philippines ranked on the top 10 of all markets globally for the company's beverage products.
Last year, Coca-Cola Philippines recorded double-digit growth, led by its flagship brand Coca-Cola. The company also recently expanded a no-added preservatives formulation of the Minute Maid Pulpy brand with real pulp and juice.
"We remain committed to the Philippines, where we will celebrate 100 years in business in 2012, and uphold our confidence in the Philippine economy and the continued growth of our brands," Schultz said.
The Coca-Cola Co., which operates 23 plants and 47 sales offices with more than 7,000 employees across the Philippines, will focus the rest of the investment on marketing and logistics.
"We also continue to invest in the community. Currently The Coca-Cola Co. has built 80 Little Red Schoolhouses in remote areas in the Philippines, benefiting over 40,000 students," Schultz said. "Now the Coca-Cola Foundation is working at constructing an additional 20 Little Red Schoolhouses to reach our goal of 100 Little Red Schoolhouses by 2012, the 100th year anniversary of Coca-Cola in the Philippines."
Coca-Cola has been in the Philippines since the beginning of the 20th century and has been locally producing its flagship product since 1927, with the country subsequently receiving the first non-US national Coca-Cola bottling and distribution franchise.
By Daxim Lucas
