Coca-Cola to invest another $2 billion in China: reports
By Michael Kitchen
Last update: 7:58 a.m. EST March 6, 2009
NEW YORK (MarketWatch) -- Coca-Cola Co. (KO) said Friday it plans to invest an additional $2 billion in its China operations over the next three years, according to reports from the region. Chief Executive Muhtar Kent said in a statement quoted by Dow Jones Newswires that the new investment will go to "new plant and distribution infrastructure, sales and marketing, and R&D." The announcement follows the launch of Coca-Cola's $2.4 billion bid for Chinese beverage producer Huiyuan Juice Group Ltd. (HK:1886) , which still awaits regulatory approval by Beijing. A Coca-Cola spokesman quoted by the Associated Press said: "We have deep respect for the hard work [Chinese commerce officials] are doing as part of the regulatory approval. ... We think it would be inappropriate for us to speculate about when [Chinese regulators] will be able to finalize the approval process."