Coca-Cola Enterprises has announced it is to invest £1m a week as part of a £52m injection in its UK manufacturing operations.
The soft drink giant, which will take its UK investment since 2011 to £227m by the end of 2014, revealed the plans at a breakfast briefing in Central London this morning.
It also confirmed the investment will go into innovations in its machinery and sustainable production across six sites in the country.
This includes investing in a Combined Heat and Power system at its Wakefield factory, currently Europe’s largest soft drinks plant by volume, which will save 1,500 tonnes of CO2 a year, a 5.6% reduction.
Simon Baldry, managing director of CCE, said the latest investment demonstrates the company’s commitment to the UK market.
“Our latest funding pledge shows once again our desire to invest significantly in the most innovative and efficient technologies available,” he said.
“It forms an important part of our long-term strategy to continue to grow our business sustainably and make a positive contribution to the British economy.”
The investment announcement coincides with the results of independent research into Coca-Cola’s economic impact on the UK economy.
Led by Professor Ethan Kapstein, visiting fellow at the Center for Global Development with economists at Stewart Redqueen, the socio-economic impact assessment (SEIA) revealed that every pound of value created by Coca-Cola supports an additional £8 elsewhere in the British economy.
Professor Kapstein said manufacturing is important for stability and growth for “a myriad of reasons,” including playing a role in supporting an entire web of broader economic activity.
“Our research clearly demonstrates the positive impact that Coca-Cola has as a genuinely local business in Great Britain, delivering significant value to a broad range of sectors and regions across the country, directly and indirectly supporting job creation in household income,” he said.
TM’s James Pozzi will be touring Coca-Cola Enterprises’ Wakefield facility next week, with a full review to follow.