Mexican Coke bottler Arca plans 43 pct investment hike in 2017
MEXICO CITY, April 27 Mexican Coke bottler Arca Continental plans to ramp up its capital expenditures by 43 percent, to 10 billion pesos ($525.6 million), this year as it starts a new U.S. venture, the company said Thursday.
Arca announced a deal earlier this year to act as Coca-Cola Co's sole franchise bottler in the Southwest United States.
Arca said in a statement that 40 percent of its 2017 investments will go to its operations in Mexico, 25 percent to the new U.S. unit and 25 percent to its businesses in South America.
The funds will aim to strengthen operations, modernize plants and improve customer service, Arca said.
Arca added that it would likely surpass its goal of earning 100 billion pesos in sales this year, even without the U.S. operation.
($1=19.0255 pesos)
(Reporting by Mitra Taj; Editing by Leslie Adler)