THE COCA-COLA COMPANY ANNOUNCES NEW BOTTLING PLANT IN BANGLADESH
Plant Delivers on Promise of Previously Announced $74 Million Investment
Investment Represents Largest Fast-Moving Consumer Goods Foreign Direct Investment
in Bangladesh in 20 Years
Bhaluka, Bangladesh, January 18, 2017 – International Beverages Private Limited, a division of The CocaCola Company, today officially inaugurated a new plant in Bhaluka, Bangladesh as part of the Company’s $74 million investment in the country. The event was presided over by Bangladesh Finance Minister A.M.A. Muhith and the United States Ambassador to Bangladesh, Marcia Bernicat attended by a number of guests consisting of local authorities, key partners, customers and employees.
The Company’s investments in the country include $60 million for the new plant and other investments in infrastructure, route to market and marketing initiatives. This new facility in Bhaluka represents the Company’s continued commitment to long-term business development as well as the sustainable development of local societies in Bangladesh.
The plant, which commenced operations in December 2016, will initially run two lines, producing Coca-Cola, Fanta, Sprite and Kinley water. More than 150 people will be employed at the plant and approximately 1,000 more indirect jobs through industries involved in the entire value chain including transportation, manufacturing and packaging supply.
Selected Quotes from key dignitaries in attendance include:
A.M.A. Muhith, Finance Minister, The People’s Republic of Bangladesh: “Today’s opening represents a positive trend for Bangladesh. Private sector investment in our country is picking up and Coca-Cola’s decision to invest in Bangladesh demonstrates that private sector investment is catching up public sector investment. More importantly, Coca-Cola’s investment expands beyond the walls of this plant by creating additional jobs in our communities, training local talent and investing in our communities. Today is great way to start 2017.”
The Honorable Marcia Bernicat, United States Ambassador to Bangladesh: “I believe that Coca-Cola’s plant will bring great things to Bhaluka, not only because of the jobs the plant brings, but also because Coca-Cola is a true model for corporate social responsibility.”
John Murphy, President, Pacific Group, The Coca-Cola Company: “The Coca-Cola Company doesn’t take investments of this size lightly. We chose Bangladesh for this plant and investment for a multitude of reason but, more among the most important were the country’s positive attitude towards undertaking reforms for business growth and the availability of a highly-skilled workforce. We are excited to be a part of the positive change happening in the country.”
Irial Finan, Executive Vice President, The Coca-Cola Company and President of the Company’s Bottling Investments Group: “Today’s opening and accompanying investment represent tremendous momentum for our business in Bangladesh. It is our hope that people view our presence as a representation of our strong belief in this country and optimism in creating a stronger future for our communities and businesses in this country.”
T. Krishnakumar, Bangladesh, India, Nepal and Sri Lanka, Bottling Investment Group, Chief Executive Officer, Hindustan Coca-Cola Beverages Pvt. Ltd: “This new plant will accelerate our efforts to grow and be more responsive to local customers and consumers needs by offering a wide range of innovative, great-tasting and high-quality product choices. We believe in a successful future where we will we continue to make positive and meaningful differences for our consumers, customers and the community,”
Venekatesh Kini, President, India and Southwest Asia, The Coca-Cola Company: Bangladesh is fast emerging as one of the world's most important growth markets for consumer product companies. This new production facility will allow us to meet the demands of this strong base for rising consumption in the coming decades and introduce new offerings over time. We are excited to be a part of the fabric of the country.”
The Coca-Cola Company (NYSE: KO) is the world's largest beverage company, refreshing consumers with more than 500 sparkling and still brands. Led by Coca-Cola, one of the world's most valuable and recognizable brands, our Company's portfolio features 20 billion-dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero, Vitaminwater, Powerade, Minute Maid, Simply, Georgia and Del Valle. Globally, we are the No. 1 provider of sparkling beverages, ready-to-drink coffees, and juices and juice drinks. Through the world's largest beverage distribution system, consumers in more than 200 countries enjoy our beverages at a rate of 1.9 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that reduce our environmental footprint, support active, healthy living, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. Together with our bottling partners, we rank among the world's top 10 private employers with more than 700,000 system associates. For more information, visit Coca-Cola Journey at www.coca-colacompany.com, follow us on Twitter at twitter.com/CocaColaCo, visit our blog,Coca-Cola Unbottled, at www.coca-colablog.com or find us on LinkedIn at www.linkedin.com/company/the-coca-cola-company.
About Hindustan Coca-Cola Beverages Private Limited
HCCBPL is the largest bottling partner of The Coca-Cola Company (www.thecoca-colacompany.com) in India. It is a part of The Coca-Cola Company’s Bottling Investments Group (BIG) and responsible for the manufacture, package, sale and distribution of beverages under the trademarks of The Coca-Cola Company.