PepsiCo Inc., the world's second-largest food and beverage company, plans to invest US$250 million in Vietnam during the next three years as it expands in Asia.
The money will be used to increase manufacturing capacity, add equipment and broaden the company's product lineup, PepsiCo said in a statement on Tuesday. The company said it has already introduced beverages such as Tropicana Twister, Aquafina water and Lipton ready-to-drink tea in Vietnam.
"Vietnam represents one of PepsiCo's most exciting growth opportunities," Saad Abdul-Latif, chief executive officer of PepsiCo Asia, Middle East and Africa, said in the statement.
PepsiCo committed to spending 2 cents a share this year on an expansion in China and had "broad gains" in India, Pakistan, Eqypt, the
Philippines and Thailand last quarter, Chief Financial Hugh Johnston said on a July 20 conference call.
The Purchase, New York-based company increased sales outside North America and the UK to 32 percent last year from 30 percent in 2008 and boosted revenue excluding those regions every year since at least 2004.