PepsiCo to Invest $2.5 Billion in China
PepsiCo plans to invest an additional US$2.5 billion in China over the next three years. The newly announced investment is in addition to the US$1 billion investment the company announced in 2008, which will be completed this year.
"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," says PepsiCo Chairman and Chief Executive Officer Indra Nooyi, who is in Shanghai to visit the Shanghai Expo, where PepsiCo is a sponsor of the USA Pavilion. "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 new investment will be allocated to a variety of projects, including new manufacturing facilities, a significant scaling up of the company's research and development operations, expanded agricultural development and brand-building initiatives.
"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," says PepsiCo Chairman and Chief Executive Officer Indra Nooyi, who is in Shanghai to visit the Shanghai Expo, where PepsiCo is a sponsor of the USA Pavilion. "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 new investment will be allocated to a variety of projects, including new manufacturing facilities, a significant scaling up of the company's research and development operations, expanded agricultural development and brand-building initiatives.
