Coca-Cola aims to put fizz in Asian market
June 22, 2004
Beijing - Beverage giant Coca-Cola expects China to become its biggest market in Asia this year, with sales growth exceeding 16 percent allowing it to overtake Japan, state media reported Tuesday.
The company plans to open three new bottling plants and construction has already begun at a $12-million facility in Lanzhou, Gansu province, where production would probably start by the end of the year, the China Daily said.
Work will start soon on an $11-million plant in the southwestern municipality of Chongqing and a $5.6-million plant in Zhanjiang in southern Guangdong province.
Coca-Cola ended the first quarter with market share in China of 23 percent, making it the leading brand in the country's carbonated soft drink market.
Including other brands under the Coca-Cola umbrella, such as Sprite, its market share rises to over 50 percent, double that of global rival Pepsico, the report said. - AFP
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