Coca-Cola Confirms New Bottling Operation, Expands Community Initiatives
Sharm El-Sheikh - The Coca-Cola Company today outlined further details of its previously announced commitment to invest $500 million in Egypt within three years during the Egypt Economic Development Conference.
The Company and its bottling partners announced that the investment will fund new manufacturing, distribution, sales and marketing capabilities which will include the 2016 opening of a new bottling facility in 6th of October City while creating additional employment opportunities across its Egypt supply-chain. Further increasing the 12,000 Egyptians currently employed by Coca-Cola, the Company will also expand its concentrate facility at the Free Zone in Nasr City which exports to 46 countries in Africa, the Middle East and parts of Asia.
The new Coca-Cola investment will additionally enable the expansion of new and existing Egyptian community programs focused on women and youth empowerment, wellbeing and rural development. Announced in March 2015, the new Coca-Cola 5by20 program in Egypt will initially provide business opportunities to 4,000 Egyptian women and access to commercial skills, financial services, assets and mentor support. Focusing on Upper Egypt, the program will be launched in Al-Fayoum, Beni Suef, Al-Minya, Assiut and New Valley governorates and represents the latest progress in Coca Cola's worldwide commitment to empower five million women entrepreneurs by 2020.
During his participation at the Egypt Economic Development Conference, Ahmet Bozer, President of Coca-Cola International, highlighted: "We are proud to have been present in Egypt since we began operations in Cairo in 1942 and Coca-Cola remains as committed as ever to supporting Egypt's economic and social progress through investing in critical growth areas. We believe that our $500 million investment commitment will not only enable business growth but make a meaningful long-term contribution to the communities and consumers we serve, supporting sustainable growth and prosperity."
At the Conference, Bozer outlined that Coca Cola will also continue to expand its Egypt Livelihood Program with plans to refurbish 100 rural villages by 2020 and upgrade infrastructure and provide clean water access to tens of thousands of rural Egyptians. Bozer continued, "We are delighted to be able to participate in important opportunities for private and public sector collaboration, such as the Egypt Economic Development Conference, so that together we can join forces and share our learnings and vision to capture the tremendous promise and potential that Egypt presents."
Ahmet Bozer will participate in a debate themed 'Enhancing the Investment Climate in Egypt' with Ashraf Salman, Minister of Investment, Egypt at 10am on Saturday 14th March at the Egypt Economic Development Conference.
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About The Coca-Cola Company
The Coca-ColaCompany(NYSE: KO) is the world's largest beverage company, refreshing consumers with more than 500 sparkling and stillbrands. Led byCoca-Cola, one of the world's most valuable and recognizable brands, our Company's portfolio features 20 billion-dollar brands includingDiet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, POWERADE, Minute Maid, Simply, Georgia, Dasani, FUZE TEA and Del Valle. Globally, we are the No. 1 provider of sparkling beverages, ready-to-drink coffees, and juices and juice drinks. Through the world's largest beverage distribution system, consumers in more than 200 countries enjoy ourbeveragesat a rate of 1.9 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that reduce our environmental footprint, support active,healthy living, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. Together with our bottling partners, we rank among the world's top 10 private employers with more than 700,000 system associates.
For more information, visit Coca-Cola Journey atwww.coca-colacompany.com, follow us on Twitter at twitter.com/CocaColaCo, visit our blog,Coca-ColaUnbottled, at www.coca-colablog.com or find us on LinkedIn at www.linkedin.com/company/the-coca-cola-company.
© Press Release 2015
