PepsiCo to invest $1 billion in China
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- November
- 3
PepsiCo Inc., the Purchase-based beverage and snack food giant, will continue its expansion in rapidly growing international markets through its plans to invest $1 billion in China during the next four years.
The company’s comitment to China will include investing in manufacturing, increasing research and deveolpment, introducing new products for Chinese consumers and broadening product distribution through an expanded sales force.PepsiCo and its bottlers, which already employ more than 22,000 people in China, expect to add thousand of additional jobs in the world’s largest country.
“This is our largest investment in China in the nearly 30 years we have been doing business here, and it is consistent with our broader global strategy of investing in high-growth developing markets,†PepsiCo Chairman and Chief Executive Officer Indra Nooyi said in a written statement.Nooyi is making a four-day visit to China this week to meet with government officials and local business executives. She also will tour PepsiCo’s operations in China.
China is one of PepsiCo’s fastest-growing international markets. Many of the company’s biggest brands are produced and sold in China, including Pepsi, Frito-Lay snacks, Tropicana juices, Quaker foods and Gatorade sports drinks.
“We are enormously confident in the continued prosperity of China,†Nooyi said. “We look forward to building an even brighter future here.â€
PepsiCo, which reported 2007 revenues of more than $39 billion, does business in about 200 countries. Last year, 44 percent of the company’s sales originated outside the United States. The international markets provide important geographic diversification to PepsiCo as it looks to overcome a slower U.S. market hurt by a weakening economy.
This entry was posted
on Monday, November 3rd, 2008 at 2:20 pm by Jay Loomis.
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