Fulfilling the vision of China as "the future growth engine of the company's business," the global soft-drink icon has opened a $90M innovation and technology facility in Shanghai that will employ 600 people -- three times the number forecast by the company 18 months ago.
Fulfilling the vision of China as "the future growth engine of the company's business," the global soft-drink icon has opened a $90M innovation and technology facility in Shanghai that will employ 600 people -- three times the number forecast by the company 18 months ago.The new Shanghai facility is five times larger than the old building and serves as the R&D hub for Coca-Cola China's 30,000 employees. When the plans for the innovation and tech center were announced 18 months ago, corporate VP for global engineering Nilang Patel said, "Innovation is at the heart of our business. We are globally developing our R&D capabilities, adding facilities and head-count to help us deliver on consumer needs. The new center also offers great development opportunities for our R&D employees throughout this network."
A Dow Jones news story noted that the new plant, plus Coca-Cola's decision to invest $2 billion in China in the next three years, runs counter to a recent trend that has seen global corporations reduce their investments in China due to the global recession. The company plans to put that $2 billion toward enhancements of its infrastructure, sales, and marketing operations in China.
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