Coca-Cola Co. said three new bottling plants worth a combined $240 million have opened in China and are close to completion.
Coca-Cola plans to spend $2 billion over a three-year period to build its business in China, a nation of 1.33 billion people that is now Coke's third-largest market. The new plants will produce beverages including Coca-Cola, Sprite, Fanta, and Minute Maid.
Coca-Cola now has more than 40 bottling plants in China. The company said the three new ones will directly create 2,000 additional new jobs. By the end of the year, Coca-Cola plans to mark six plants inaugurated in a two-year period.
The plants "will extend our competitive edge in China and allow Coca-Cola to support local community development by providing jobs, generating tax revenue and boosting further investment in the local economy by Coca-Cola suppliers," said chief executive Muhtar Kent, who is also chairman of the US-China Business Council.
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