YANGON, Myanmar, Jun 04, 2013 (BUSINESS WIRE) --
For the first time in more than 60 years, Coca-Cola is being bottled in
Myanmar. Muhtar Kent, Chairman and CEO of The Coca-Cola Company, today
attended the ceremonial inauguration of a bottling plant in Crystal
Springs, Hmawbi Township.
The facility is the first to locally bottle
Coca-Cola since the Company re-entered Myanmar last year. The historic
event continues the long-term commitment of The Coca-Cola Company to
generate a lasting positive impact by manufacturing, distributing,
selling and hiring through its local business in Myanmar.
"As we grow as a local business in Myanmar, we are committed to creating
economic value and building sustainable communities," said Kent. "For
the people of Myanmar, Coca-Cola embodies the optimism of a bright
future, with the promise of better days and better lives ahead. We are
privileged to be a part of their journey."
After the lifting of sanctions, The Coca-Cola Company became one of the
first U.S. companies to be awarded an investment permit under Myanmar's
new Foreign Investment Law. The inauguration of the Coca-Cola plant is a
tangible demonstration of Coca-Cola's planned $200 million investment
over the next five years. The capital investment will increase
production capacity, grow logistics including sales and distribution
operations, and improve marketing and people capabilities.
Through its local presence, The Coca-Cola Company will contribute to
Myanmar's economic and social success by investing in local
manufacturing, employing local people, engaging local suppliers and
distributors and supporting community investment programs. This
investment will stimulate job creation and Coca-Cola estimates that it
will create more than 22,000 job opportunities across the entire value
chain over the next five years.
At the inauguration, Kent was joined by Madeleine Albright, former U.S.
Secretary of State and Chair of Albright Stonebridge Group, His
Excellency U Myint Swe, Chief Minister of Yangon Region, officers of
Pinya Manufacturing Co. Ltd, the local Coca-Cola bottling partner and
other representatives of Coca-Cola in Myanmar.
"As a proud Myanmar citizen, I am honored to be part of this momentous
occasion for Myanmar and Coca-Cola," said Daw Shwe Cynn, Vice Chairman,
Pinya Manufacturing Co. Ltd.
"We are excited to join our strong local expertise and passionate
employees with the world's number one brand and Coca-Cola's world-class
business capability. Together we have a positive future for our
business, for our community and for the people of Myanmar," said Mr
Thureign Win, Vice Chairman Pinya Manufacturing Co. Ltd.
The Coca-Cola Company's well-established global standards for corporate
ethics are being incorporated into Coca-Cola's business practices in
Myanmar. This includes strict adherence to its global human and
workplace rights policy, supplier guiding principles, code of business
conduct and anti-bribery policies.
Apart from ethical economic development, The Coca-Cola Company aims to
provide growth and development opportunities for the people of Myanmar.
As part of this commitment, The Coca-Cola Foundation is working with
Pact, a respected non-government organization, to implement Swan-Yi,
a three-year program to empower nearly 25,000 Myanmar women focusing on
financial literacy, entrepreneurship and business management. Since the
program commenced in July 2012, 10,000 women have been empowered to
start their own businesses.
Coca-Cola and Sprite in 425ml plastic bottles with uniquely scripted
Myanmar labels are being produced in Myanmar, with local production of
the iconic glass contour bottle (300ml) and aluminum can expected in the
coming weeks. Completing the portfolio is imported Coca-Cola Zero (can).
Coca-Cola aims to reach more than 100,000 outlets across the country in
the next six months through increased production and distribution
capacity, including a second existing plant in Hlaing Thar Yar.
source: MarketWatch
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