Coca-Cola Beverages Philippines, Inc. (CCBPI) has infused an additional $22-million investment in the Philippines. The allotment is described by the country’s Coca-Cola bottling arm as an imperative and a needed collective support to restart the Philippine economy and uplift Filipino communities amid unprecedented times.
The additional $22-million investment allotment is intended to enhance local operations for 2020.
The beverage giant has earmarked $73-million investment for this year. The additional $22-million infusion brings total investment to $95-million. That is approximately 4.75 billion pesos.
“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 [that] we are facing,” stressed McGeown.
“We are doing what we can to help make sure that the Filipino trait of resilience can shine through,” McGeown emphasized.
CCBPI is top jobs creator; investing on the Filipino
The incremental capital infusion will go to new production lines to be established throughout the Philippines and for the development of people via job protection and job generation.
According to one study, shared by Coco-Cola, for every one direct job at its bottling arm, the Company generates seven more across its value chain.
CCBPI is one of the major employers in the country, operating 19 manufacturing plants and over 70 sales and distributions offices.
“Our investment in the Philippines is an investment in the Filipino,” shared McGeown.
“The government and the private sector have always come together to nurture development in the country,” said McGeown 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 a Candler Cup 2019 winner
Its effort on jobs protection and generation earned CCBPI the recognition as the best-performing Coca-Cola bottler globally, bagging the Candler Cup 2019—the most coveted award within the Coca-Cola System. The prize is a historic first for the Philippine operations – a testament to the dedication, diligence, and pride that Filipinos rightly place in their work.
The Candler Cup honors the bottler that best demonstrates executional excellence across the Coca Cola system around the world, as determined by their peers.
Internationally, Coca-Cola bottlers are recognized for its strong competition, yet CCBPI bested competitors across the region, such as Europe, Latin America, North America, Middle East, and Africa.
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.