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| Two Coca-Cola cans. Shares of Coca-Cola slumped
to a 52-week low after the soft-drink giant warned that bad weather
in Europe and weak sales in North America would puncture its
previous 2004 profit hopes. (AFP) |
Coca-Cola, the world's leading beverage supplier, formed a
manufacturing network in Northeast China, with a bottling plant that
started operation yesterday in Jilin Province.
The newly established plant, located in Changchun, capital city of
Jilin, is Coca-Cola's fourth plant in Northeast China, with others in
Harbin, capital city of Heilongjiang Province, as well as Shenyang and
Dalian of Liaoning Province.
Involving an investment of US$20 million, the Jilin-based plant covers
50,000 square metres, with a building area of 15,490 square metres.
It has two internationally advanced production
lines and is capable of an annual production output of 43 million standard
boxes of carbonated beverages
, including Coca Cola, Sprite and Fanta.
The new bottling plant, operated by Jilin COFCO (China National
Cereals, Oils and Foodstuffs Corporation) Coca-Cola Beverages Co Ltd - a
joint venture of two world top 500s - is expected to satisfy the surging
market demand in Jilin Province.
Paul Etchells, president of Coca-Cola (China) Beverages Co Ltd said
Northeast China is a market with huge potential for Coca-Cola's long term
business expansion in China.
"The Chinese Government's policy to invigorate Northeast China, a
national industrial base, will spur the rapid economic development of the
region, which offers vast market margins for us," said Etchells.
Based on the manufacturing capacity of the new bottling plant,
Coca-Cola will enlarge its distribution system and sales networks in the
region to meet increasing demands.
According to Luan Xiuju, president of Jilin COFCO Coca-Cola Beverages
Co Ltd, the new plant will make contributions to the local economy.
"In addition to creating new job opportunities for
Jilin, the bottling plant may attract some upstream and downstream
enterprises of Coca-Cola, engaged in beverage raw materials, packaging and
logistics
, to set up
their branches here," said Luan.
Re-entered into China since 1979, Coca-Cola has
joined hands with COFCO, Hong Kong Swire and Malaysia-based Kerry to pool
over US$1.1 billion into the Chinese mainland and boasts 28 bottling plants, including three under construction in Lanzhou,
capital city of Northwest China's Gansu Province, Zhanjiang of South
China's Guangdong Province and Southwest China's Chongqing Municipality.
(Agencies) | 
Updated: 2004-10-13 11:43