Coca-Cola to Invest US$3 Billion in Russia
Muhtar Kent, Chairman and CEO of The Coca-Cola Company, and George David, Chairman of Coca-Cola Hellenic Bottling Company, officially opened Coca-Cola Hellenic's newest plant in Europe, located in the Rostov region of Russia.
Sep 27 2011 --- The Coca-Cola Company and its bottling partner, Coca-Cola Hellenic, today announced a new Russian investment program of US$3 billion over the next five years, commencing 2012, as part of the official opening of a new Coca-Cola plant in the Rostov region.
Muhtar Kent, Chairman and CEO of The Coca-Cola Company, and George David, Chairman of Coca-Cola Hellenic Bottling Company, officially opened Coca-Cola Hellenic's newest plant in Europe, located in the Rostov region of Russia. The guests of honor at the factory's opening included Vasily Golubev, Governor of the Rostov region, and Dmitry Chernyshenko, President and CEO of the Sochi 2014 Organizing Committee.
Vasily Golubev said, "At present the Rostov region is among three Russian regions with the most comfortable business climate. Coca-Cola Hellenic's investment exemplifies this trend. In addition to offering employment opportunities for the community, the Company provides a concrete example: it is profitable to open and do business here. As such, the Company benefits further economic growth of the Don region and the country on the whole."
George David congratulated the plant's 422 employees and reiterated Coca-Cola Hellenic's long-term commitment to the strategically significant Russian marketplace, the largest in its franchise, and said the investment program would enhance wealth creation and prosperity in the Rostov region. "I am sure that the launch of this plant in the Southern Federal District will promote the development of the region and the formation of an innovative, eco-oriented economy. We are fully committed to and believe strongly in the potential of Russia, and that of the region."
Muhtar Kent said, "The Coca-Cola Company is proud to be serving this great nation's 140 million-plus consumers. Our system is part of the fabric of Russia's economic development and we continue to invest in Russia to create jobs and stimulate growth across our supply chain. Today's announcement underscores the Coca-Cola system's long-term strategy of investing in Russia. The Coca-Cola Company along with our bottling partner, Coca-Cola Hellenic, will invest in Russia more than US$3 billion in 5 years from 2012 to 2016."
The opening of the Rostov plant is part of the successively implemented strategy of the companies of the Coca-Cola system, whose cumulative investments in the Russian economy now amount to more than US$3 billion in total. The investment into the Coca-Cola Hellenic Rostov facility, which has a production capacity of 450 million liters of beverages per year, and located within a 26.5 hectare area, has already amounted to over US$120 million.
The facility's environmental practices, quality controls and modern technologies in manufacturing the highest quality nonalcoholic drinks were showcased during the ceremonies.
The opening of the Coca-Cola Hellenic plant in Rostov region was also commemorated by the launch of the limited edition Coca-Cola can bearing the Sochi 2014 logo.
Dmitry Chernyshenko, President and CEO of the Sochi 2014 Organizing Committee, said: "The launch of the new Coca-Cola plant demonstrates the fact that the Olympic Games in Sochi have become a catalyst of the economic growth of the Russian South. Coca-Cola shares two major ideals of the Sochi 2014 Organizing Committee - innovation and sustainability. The plant is equipped with the most advanced technologies, and I believe that in 2014 we are going to be thirsty but only for Olympic victory."
Worldwide, The Coca-Cola Company and its bottling partners are investing nearly $30 billion over the next five years to support anticipated growth across its system. These investments range from new manufacturing facilities to new distribution systems to new marketing investments in emerging economies. The Coca-Cola system currently employs more than 700,000 people worldwide, making it one of the world's top five private employers.
