Coca-Cola Expands Its Beverage Production in China With at Least 6 Facilities
Responding to positive Q2 sales figures in China, Coca-Cola (NYSE: KO) is pushing ahead with its plans to open half a dozen new production facilities there before the end of 2020. The new bottling capacity will cost approximately $36 million to complete, while the facilities are expected to crank out $244 million worth of soda and other soft drinks per year.
The facilities themselves are being constructed and operated by a partner of Coca-Cola, Swire Coca-Cola. Swire Pacific (OTC: SWRAY) reported a huge $707 million loss for Q2, which ended on June 30, but hopes its China operations, including the Coca-Cola partnership, will enable weathering the COVID-19 economic storm. Swire is chiefly an aviation company, but chairman Merlin Swire states that "the long-term success of Swire Pacific will reflect the continued growth of the Chinese mainland and Hong Kong, and we are well placed to take advantage of new opportunities."
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Source Fool.com
