Coca-Cola Beverages Philippines, Inc. continues to invest in local operations with additional $22M
- Coca-Cola allotted $22-million for local operations.
- The additional investment would augment the $73-million earmarked for 2020.
- “The investment is testament to our faith that the Filipino people can look to a better tomorrow,” said Gareth McGeown, President and CEO of CCBPI.
Coca-Cola Beverages Philippines, Inc. (CCBPI)—the bottling arm of Coca-Cola in the country—has allotted an additional $22-million investment, or approximately P1.1 billion, in its local operations for 2020.
The additional investment would augment the original $73 million investment already earmarked for the year.
The incremental capital infusion will go to new production lines to be established throughout the Philippines, as well as people development via job protection and job generation.
CCBPI’s total investment for the year 2020 amounting to over $95M (approx. P4.75 billion), is a support that is imperative amid the challenges of the pandemic—especially as we collectively pursue restarting the Philippine economy and uplift Filipino communities amid unprecedented times.
“We remain confident in the Philippine economy, and this additional $22 million investment is testament to our faith that the Filipino people can look to a better tomorrow,” says Gareth McGeown, President and CEO of Coca-Cola Beverages Philippines, Inc.
“Throughout our journey of over a century in the Philippines, Filipinos have helped us grow, and we are as committed as ever to supporting our people, customers, and communities, especially given the challenges we are facing. We are doing what we can to help make sure that the Filipino trait of resilience can shine through.”
CCBPI is one of the major employers in the country, operating 19 manufacturing plants and over 70 sales and distributions offices.
According to one study, for every one direct job at the Coca-Cola bottling arm, the Company generates seven more across its value chain.
The bottling company was recently cited as the best-performing Coca-Cola bottler globally after bagging the Candler Cup 2019—the most coveted award within the Coca-Cola System which honors the bottler that best demonstrates executional excellence across the Coca Cola system around the world, as determined by their peers.
CCBPI bested strong competition among international Coca-Cola bottlers from across regions, such as Europe, Latin America, North America, Middle East, and Africa for the prize—a historic first for the Philippine operations, and a testament to the dedication, diligence, and pride that Filipinos rightly place in their work.
“Our investment in the Philippines is an investment in the Filipino,” says McGeown. “The government and the private sector have always come together to nurture development in the country—and, given the unprecedented difficulties of the pandemic, private companies like Coca-Cola need to do the best they can to help restart the economy in order to secure and protect as many jobs as possible, to help as many local communities, micro and small businesses rebuild their livelihoods, and, most critically, help displaced workers get back on their feet.”
CCBPI is confident of continued excellence in its overall industry performance, not only as a result of continued and sustained investments in its operations, but also through its various programs benefiting Filipino communities, as well as close coordination with and support for stakeholders, partners, and customers.
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