PepsiCo, Pepsi Bottling To Invest $1 Billion In Russia Over 3 Yrs
06 July 2009 - 3:11PM
Dow Jones News
PepsiCo Inc. (PEP) and Pepsi Bottling Group Inc. (PBG) plan to
invest $1 billion in Russia over three years to expand their
manufacturing and distribution network in the country.
The investment will bring the cumulative investment in Russia by
the two companies to over $4 billion, PepsiCo said in a statement
Monday.
"This investment reflects very clearly our great confidence in
Russia and our long-term commitment to this very important market,"
said PepsiCo Chairman and Chief Executive Officer Indra Nooyi.
In addition to the new beverage facility opening this week in
Domodedovo, a new snacks manufacturing plant is expected to open
later this year in the southern city of Azov. PepsiCo and PBG also
are planning investments to build warehousing and distribution
infrastructure for the Lebedyansky juice business.
PepsiCo also plans to continue its substantial investment in
local agriculture.