PepsiCo announced on Nov. 3 plans to invest $1 billion in China over the next four years to boost production and expand its brand name. PepsiCo chairman Indra Nooyi said: "This is our largest investment in China in the nearly 30 years we have been doing business here."
The investment will fund a variety of major capital programs to expand manufacturing capacity, particularly in interior and western areas of the country, the statement said.
The investment will also be used to expand local research and development facilities and build the company's sales force to broaden distribution.
PepsiCo is one of the world's largest food and beverage companies with 2007 annual revenues of more than $39 billion. Many of the company's most prominent brands are produced and sold in China, including Pepsi, Frito-Lay snacks, Tropicana juices, Quaker foods and Gatorade sports drinks.
Copyright Agence France-Presse, 2008
