Coca-Cola sets up US$1.2bn investment in Argentina
31 May 2018 --- Coca-Cola has announced that it is set to increase its investments in Argentina over the next three years, giving embattled President Mauricio Macri’s government “a boost during a difficult time,” according to Reuters. Coca-Cola said it would invest US$1.2 billion in Argentina from 2019 to 2021.
The move follows a US$1 billion investment by Coca-Cola de Argentina and its bottling partners, Andina, Arca Continental, FEMSA and Reginald Lee, between 2016 and 2018.
The additional $1.2 billion investment will help to fund upgrades and construct new production lines at existing bottling facilities in the country, according to Coca-Cola.
Coca-Cola was one of the first companies to pledge a significant investment in Argentina after President Macri took office in late 2015.
Joao Marcelo Ramires, president of the South Latin America unit of Coca-Cola, says: “We are aware of the responsibility that touches us as a business sector at this momentous moment for the country. Therefore, we renew our commitment to Argentina, where we have worked with passion for 75 years to create shared value with society.”
A statement from the company also claims that the investment is necessary to achieve “truly sustainable growth with a positive socioeconomic impact, compatible with environmental protection.”
The company’s soft drinks portfolio in the country currently includes 20 brands, namely Coca-Cola, Coca-Cola Light, Sprite, Cepita, Bonaqua, and Aquarius.
