Financial Daily from THE HINDU group of publications
Friday, Nov 15, 2002
Financial Daily from THE HINDU group of publications Friday, Nov 15, 2002 |
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Corporate
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Announcements Coke's S-E Asia chief coming Ratna Bhushan
NEW DELHI, Nov. 14 MR Patrick T. Siewert, Group President, East & South East Asia, the Coca-Cola Company, is visiting India towards the end of this month. Mr Siewert took over this position in September 2001. The East and South East Asia group includes Bangladesh, Cambodia, China, India, Laos, Malaysia, Nepal, Singapore, Thailand, Sri Lanka and Vietnam. Just last month, the Atlanta-based soft drinks major had declared India, along with China and the Philippines, as strong growth markets in its third quarter results. According to a statement issued by the company globally last month, the Asian region had reflected a unit case growth of 9 per cent for the quarter, and 11 per cent for the first nine months. Despite accumulating losses of Rs 2,086 crore in its bottling subsidiary, Hindustan Coca-Cola Beverages, in the last two years, Coca-Cola India has undertaken a `beverage revolution' in the country. While last year the company had forayed into powdered soft drinks with Sunfill, the soft drinks major has now entered the mass, ready-to-drink hot tea and coffee market with its Georgia brand. Coca-Cola India has claimed a 30 per cent volume growth in the quarter ended September 30, 2002 for its CSD (carbonated soft drinks) sales, compared to the same period last year. According to a company statement, CSDs grew by 26 per cent in the previous quarter ended June 30, 2002. The company's CSD brands include Coca-Cola, Thums Up, Limca, Fanta and Sprite. Meanwhile, the company claims that Kinley, its packaged water brand, is now the country's leading brand with a 37 per cent share in the Rs 1,000-crore packaged water market.
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