PepsiCo to invest US$2.5 billion in China
US soft drink and snacks maker PepsiCo is to invest US$2.5 billion (A$3 billion) in its food and beverage businesses in China over the next three years.
The investment, announced on Friday, is in addition to a US$1 billion ($A 1.2 billion) investment pledged in 2008, which will be completed this year.
The money will be spent on new manufacturing facilities, the company’s research and development operations, expanded agricultural development and brand building.
“This investment reflects very clearly our great confidence in China and our long-term commitment to this very important, growing market,” said PepsiCo chairman and CEO Indra Nooyi. “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.”
PepsiCo plans to open 10-12 plants in China to manufacture soft drinks, non-carbonated beverages and snacks and will install additional production lines in existing facilities.
Among the new plants will be facilities in the interior and western Chinese provinces of Fujian, Gansu, Henan and Yunnan in the next two years. The company will also open five new farms for potatoes and oats.
PepsiCo also plans to broaden its portfolio of Chinese-designed and developed products with the construction of an R&D centre to develop food and beverage choices made with “wholesome ingredients that contribute to healthier eating and drinking” for Asia.
PepsiCo currently operates 27 beverage and food plants and five farms throughout China and employs around 20,000 people in the country.
just-food is the world’s leading portal for the global pre-packaged food and retail industries. Its daily mix of breaking news, views, analysis and research serves over 100,000 food executives each month. http://www.just-food.com/
Could dried ‘meat bars’ be just as popular as chocolate bars?
Aldi has announced that from second quarter 2017 it will begin on-line retail operations in China.
South Africa’s Sea Harvest has proposed a proportional takeover of Western Australian seafood compan...
This article was originally published by the Australian Science Media Centre on Thursday 24 Oct 201...
Murray River Organics (ASX: MRG) (“MRG”) announced that exports of its products had increased by 27...
New Zealand dairy company, Fonterra, has announced its 2016 financial year results, reporting turnar...
A group of UK health and nutrition professionals have criticised the idea that fat should be avoided...
Aldi is preparing to sell its goods online in China using Australian suppliers.