Coca-Cola to spend $1 billion in the Philippines over five years

Coca-Cola Co. will spend $1 billion in the Philippines over five years to strengthen production and distribution and help develop new products.

Coca-Cola Philippines recorded double-digit growth in the first half of 2010. Coca-Cola operates 23 plants and 42 sales offices with over 7,800 direct employees across the Philippines. The Philippines bottling operation is among the ten largest Coca-Cola bottlers in the world.

The company is working on building a mega bottling facility in Misamis Oriental. Scheduled to begin operations next year, it will be one of the largest plants in the region. Coca-Cola is also expanding its product lineup in the Southeast Asian nation of 98 million people. This year, it launched "Samurai" energy drink and the ready-to-drink tea "Real Leaf." The company also plans to expand its Minute Maid brand.