Coca-Cola FEMSA chief bullish on PH

ABS-CBN News

Posted at Jan 21 2013 04:07 PM | Updated as of Jan 22 2013 12:07 AM

MANILA, Philippines - Coca-Cola FEMSA, largest franchise bottler of Coca-Cola products in the world, is bullish on the Philippines.

Coca-Cola FEMSA chief executive officer Carlos Salazar Lomelin shakes hands with President Benigno Aquino in Malacanang on Monday, January 21, 2013. Photo courtesy of Coca-Cola FEMSA

Coca-Cola FEMSA chief executive officer Carlos Salazar Lomelin expressed confidence in the Philippine economy during his meeting with President Benigno Aquino in Malacanang on Monday.

"We are very honored to meet President Aquino and we look forward to a successful relationship with the Philippine government, as we explore additional growth and investment opportunities in our home in Asia," said Salazar said in a statement.

The Mexico-based Coca-Cola FEMSA recently finalized the acquisition of 51% of Coca-Cola Bottlers Philippines, Inc. (CCBPI).

Salazar bared Coca-Cola FEMSA's plans for the Philippines during the meeting with Aquino.

"We’re happy to have this unique opportunity to operate in a country with healthy growth prospects, dynamic internal consumption and an attractive socio-economic and demographic profile," he said.

The Philippine bottler is Coca-Cola FEMSA's first investment outside South America.

Coca-Cola FEMSA, which produces and distributes Coca-Cola products to most Latin America countries, has 60 bottling facilities and serves more than 2.5 million retailers worldwide.

Coca-Cola Bottlers Philippines has 23 production plants that serve almost 800,000 customers. Sales of the firm is expected reach about 530 million unit cases of beverages this year.