Coca-Cola FEMSA eyes PH unit as base for Asia growth
MANILA - Coca-Cola FEMSA (Fomento Economico Mexicano, S.A.B. de C.V.), a major bottler of Coca-Cola products in Latin America and the Philippines, is eyeing to make its domestic unit a platform for the integrated firm’s expansion into Asia.
This, as it expressed commitment to bolster its investment portfolio in the Philippines.
“Our company is fully committed to strengthen its distribution and operations in the Philippines as part of our goal to significantly contribute to the country’s economic growth and to have the Philippine operations as our platform for eventual expansion in Asia,” said Coca-Cola FEMSA Philippines Director for Corporate Affairs Juan Dominguez in a letter to Department of Trade and Industry Secretary Gregory L. Domingo.
Domingo also affirmed commitment to “beefing up Coca-Cola FEMSA’s investment potential” in the Philippines.
When sought for comment, Domingo only said Coca-Cola FEMSA is continuing its planned investments in the Philippines.
FEMSA acquired Coca-Cola Bottlers Philippines Inc. in January 2013 after acquiring a 51-percent stake from Atlanta-based The Coca-Cola Co. It directly employs at least 10,000 workers in its Philippine operations.
Coca-Cola FEMSA Philippines has 23 plants in the Philippines, and services 770,000 clients, according to the company’s web site.
Coca-Cola FEMSA, has a large presence in Latin American countries, including Mexico, Colombia, Brazil and Venezuela, but currently only has presence in the Southeast Asian region through its Philippine unit.
Coca-Cola FEMSA drinks being offered in the Philippines include Coca-Cola Zero, Coca-Cola Light, Cheers, Eight O’Clock, Eight O’Clock Funchum, Eight O’Clock ImmunoActive, Hi-C, Jaz Cola, Lift, Minute Maid, Minute Maid Pulpy, among others.
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