Quantcast
Latest Stories

Coca-Cola still confident in PH

CEO, other key officers visit Aquino

By

The world’s largest franchise bottler of Coca-Cola products has reiterated its confidence in the country’s economic prospects a month after it acquired a majority stake in the Philippine operations of The Coca-Cola Co.

The commitment of Coca-Cola Femsa to the country came during the visit of its CEO Carlos Salazar Lomelin to President Aquino at the Malacañang Palace on Monday.

The visit comes in the wake of Coca-Cola Femsa’s acquisition of a 51-percent stake in Coca-Cola Bottlers Philippines Inc. for $688.5 million in December 2012—the Latin American bottling giant’s first foray into the Philippine market.

“We are very honored to meet President Aquino and we look forward to a successful relationship with the Philippine government, as we explore additional growth and investment opportunities in our home in Asia,” Salazar said in a statement after his courtesy call.

“We’re happy to have this unique opportunity to operate in a country with healthy growth prospects, dynamic internal consumption and an attractive socio-economic and demographic profile,” he added.

The Coca-Cola Femsa chief was accompanied on his visit by Juan Ramon Felix, Coca-Cola Femsa director for Asia and Juan C. Dominguez, Coca-Cola Femsa director of human resource and corporate affairs for Asia.

During his meeting with the President, Salazar outlined Coca-Cola Femsa’s plans for the Philippines, and the vision of the company for its future undertaking with the government.

“The visit was also an opportunity for Coca-Cola Femsa to exemplify its firm belief and confidence in the Philippine government and economy and to demonstrate its commitment to continuously strengthen and enhance the legacy of its brands in the Philippines,” the company statement said.

Coca-Cola has been present in the Philippines since the beginning of the 20th century and has been locally produced since 1912. The Philippines is the recipient of the first Coca-Cola bottling and distribution franchise in Asia.

In December, Coca-Cola Femsa bought a majority stake of the local Coca-Cola operations from The Coca-Cola Co. of Atlanta.

The deal gave the Philippine bottler an enterprise valuation of $1.35 billion for a 100 percent stake. Under the deal, Coca-Cola Femsa has the option to buy the remaining 49 percent of CCBPI within a seven-year period following the closing. The buyer has the “put option” to sell its ownership to The Coca-Cola Co. of Atlanta at any time during the sixth year.

CCBPI has 23 production plants and serves close to 800,000 customers.  It is expected to sell about 530 million unit cases of beverages in 2012, Femsa said.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Beverage , Business , Coca-Cola , coca-cola femsa , Philippines

  • https://me.yahoo.com/a/iV0XkkNontlsHWTkG2jcuz.PB64A#6b054 F alonso

    It’s summer time,it’s about time for Coke to call the shots.Masama ang effect ng Coke especially sa mga kids.Cause yan ng hyperacidity at diabetes due to its hi sugar content.Taking coke zero is bad as well.The artificial sugar causes illness. Issue yan sa Internet health sites,mag browse kayo.
    Nag looby pa ang Coke kay Pnoy.Ano ang kinalaman ni Pnoy sa Coke kung kayo naman ang iinom,hindi siya.Same lahat yan basta carbonated at hi sugar content na softdrink.

  • LucianoChing

    Employees are not confident with CocaCola due to its taking advantage of its suppossed “employeeeeesssssss”.The company is doing everything to go”outsourcing”,meaning even if the job is a primary position,it still source its manpower from service-provider companies…
    Look how many of the thousand employees working directly with Cocacola are not under the payroll of the company.They get their pay from manpower service providers…
    These guys have no security of tenure and are exploited to the max.

  • lintangbedol

    coca cola adds life… to pepsi

  • http://www.facebook.com/profile.php?id=100000532465679 Donardo Cuago

    DRINK BUKO WATER INSTEAD…

  • http://profile.yahoo.com/WJLM63545SKRJA3MZVKHTPTBD4 Danilo

    yes,drink calamansi or buko juice, much healthier and no adversal ingridients

  • https://me.yahoo.com/a/iV0XkkNontlsHWTkG2jcuz.PB64A#6b054 F alonso

    Coca Cola is still confident in PH because people are neither aware nor informed of its adverse effect based on health reports online.I read on the internet that it was banned in the Emirates several months ago because they are reluctant to state the real ingredients of this famous softdrink.

    • Karabkatab

      Cola is one drink we can do without.  Mag calamansi na lang tayo, local na healthy pa.



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • 4.9 quake jolts Batanes on Maundy Thursday
  • Presidents, celebrities mourn writer Garcia Marquez
  • MH370 search to be most costly ever at $100 million — analysts
  • Iraqi guilty of beating wife to death in US
  • Avalanche sweeps Everest; 6 killed, 9 missing
  • Sports

  • Heat seek Three-peat but Spurs, Pacers top seeds
  • Can Spurs get back at Heat? Can they survive West?
  • Hopkins, 49, seeks win for the ageless
  • LeBron still No. 1 with NBA’s most popular jersey
  • Pacquiao back in PH, heads home to wife, kids
  • Lifestyle

  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • This is not just a farm
  • Entertainment

  • ‘X-men’ filmmaker slams ‘fabricated’ sex attack claims
  • Singer Chris Brown’s bodyguard on trial in DC
  • Whoopi Goldberg debuts as marijuana columnist
  • ‘X-men’ director accused of sex assault on teen boy
  • Cannes film festival launches race for 2014 Palme d’Or
  • Business

  • Italy sells luxury state cars on eBay
  • Asian shares mostly up in quiet trade
  • Dollar up in Asia on US jobs data, Ukraine deal
  • Barbie doll has a problem
  • Oil prices mixed ahead of long Easter weekend
  • Technology

  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Filipinos #PrayForSouthKorea
  • Taylor Swift tries video blogging, crashes into fan’s bridal shower
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Last call for nominations to ’14 Presidential Awards
  • San Francisco business coalition slams proposed tax on sugary drinks
  • A ‘time-travel’ production of ‘Les Miserable’ at Stanford
  • Filipina Maryknoll sister honored for years of service
  • Malaysia quarantines 64 villagers over MERS virus
  • Marketplace