ZHENGZHOU, China, Oct. 25, 2012 /PRNewswire/ -- Tingyi
(Cayman Islands) Holding Corp.
(Tingyi) (0322.HK), one of the leading food and beverage companies
in China, and PepsiCo, Inc. (NYSE:
PEP), one of the world's largest food and beverage companies, today
announced the official opening of a new beverage manufacturing
plant in Zhengzhou, China.
The Zhengzhou PepsiCo Beverages Co., Ltd. (Zhengzhou Pepsi)
facility is the first plant opened since the two companies formed
their strategic alliance earlier this year.
The new plant is part of Tingyi's and PepsiCo's expansion
strategy in China, projected to
become the world's largest beverage market by 2015. The
Tingyi-PepsiCo alliance is already the number one liquid
refreshment beverage system in China, with more than 70 plants and a national
distribution network.
The Zhengzhou plant also
delivers on the pledge made by both companies to support economic
development in China's central and
western regions.
The official plant opening was attended by Mr. Zhao Jian Cai, Vice Governor of Henan provincial government; Mr. Ma Yi, Mayor of Zhengzhou municipal government; Mr.
Zhao Rui Dong, member of the
Zhengzhou municipal government
standing committee; Mr. Cui Shao
Ying, Party Secretary of Zhengzhou Economic Development
Zone; Mr. Wang Gui Xin, Director of Zhengzhou Economic Development
Zone; and several other leading officials of the Henan provincial and Zhengzhou municipal
government.
Mr. Wei Ing-Chou, Chairman of
Tingyi Holding Corp. officially opened the new plant along with
Mrs. Indra Nooyi, Chairman and CEO,
PepsiCo, and Mr. Hubert Xu, Managing
Director of CDC Investment Consultants Limited, who is also a
local partner of the Zhengzhou
plant.
Zhengzhou municipal government
Mayor Ma said: "Zhengzhou is
a famous historical and cultural city in China with a unique reserve of cultural and
natural resources. Tingyi is a well-recognized and respected
Chinese company, and PepsiCo is one of the most successful consumer
goods companies in the world. Their products are known and loved by
millions of Chinese consumers. We thank Tingyi and PepsiCo for
choosing Zhengzhou, the city at
the heart of China, as the home of
their new plant to jointly contribute to the development of the
central region. The municipal government appreciates the critical
role played by the business community in facilitating local
economic development. We will continue to support the development
of the Tingyi-PepsiCo alliance in Zhengzhou."
Mr. Wei Ing-Chou, Chairman of
Tingyi Holding Corp., said: "We are grateful for the support
and assistance given by the government of Henan province and Zhengzhou to the Tingyi-PepsiCo alliance and
to our new Zhengzhou plant. We are
confident that the operation of the new plant will create more
business opportunities in central and western China and allow us to provide better service
for consumers and make due contributions to the healthy development
of China's beverage industry."
Mrs. Indra Nooyi, Chairman and
CEO of PepsiCo, said: "China
is a dynamic food and beverage market and a critical engine of
growth for PepsiCo. Our game-changing alliance with Tingyi is off
to an excellent start, and we see tremendous opportunities to
further expand our business throughout the country. The
Zhengzhou plant is a gateway to
the growing markets of central and western China and will enable us to put more PepsiCo
products in the hands of more consumers than ever before."
The Zhengzhou plant covers
24,000 square meters and includes two state-of-the-art beverage
production lines, with room to add additional lines in the
future. It will supply the beverage marketplace in
Henan province, while further
enhancing the companies' ability to provide consumers throughout
central and western China with a
wider range of beverage choices.
The plant will create approximately 500 direct jobs, as well as
thousands of indirect jobs in the surrounding communities.
The facility was built in accordance with criteria set by
Leadership in Energy and Environmental Design (LEED), the world's
leading green building standard. The technologies installed in
the facility are expected to reduce energy consumption by 29
percent and water usage by 20 percent compared to the standard
beverage plants in China, which
has the dual benefit of reducing operating costs and achieving
important environmental objectives.
The Tingyi-PepsiCo system now includes four LEED-certified
plants in China, with Zhengzhou joining beverage manufacturing
facilities in Chongqing,
Nanchang, and Kunming.
PepsiCo and Tingyi completed their strategic beverage alliance
on March 31, 2012. The alliance
provides Chinese consumers with several of the country's most
popular beverage products, including: Pepsi-Cola, China's top-selling cola; Mirinda,
China's top-selling flavored
carbonated soft drink; Gatorade, one of China's top-selling sports drinks;
China's top-selling tea and water
brands, sold under the Master Kong brand name; and China's largest juice portfolio.
PepsiCo's expansion in China is
part of the company's overall plan to drive growth in emerging and
developing markets around the world. PepsiCo nearly tripled its
business in emerging and developing markets from $8 billion in annual revenue in 2006 to
$22 billion in 2011.
About Tingyi
Holding
Tingyi Holding Corp. is China's leading food and beverage company that
specializes in the production and distribution of instant noodles,
beverages and baked goods in the PRC. Tingyi started its instant
noodle segment in 1992 under the brand of Master Kong, and expanded
into the bakery segment and beverages in 1996. The philosophy of
Tingyi is to provide consumers with safe, tasty quality products
with value for money. With sophisticated production processes,
outstanding operation, innovative products and CSR campaigns,
Tingyi is widely respected in China's consumer industry. Continuous
attention to operations at the community level in the past 20 years
has made "Master Kong" one of the most recognized brands. The
Company has also made big contributions to rural, agricultural and
farmers' development. For three consecutive years from 2008 to
2010, Tingyi was named one of the 50 best listed companies in
Asia by Forbes for its solid
financial track record and excellent management and entrepreneurial
skills. As of September 30, 2012,
market capitalization of the Company exceeded US$ 16.9 billion. The company is one
of the constituents of Hong Kong Hang Seng Indexes (HSCI).
For more information, please visit www.masterkong.com.cn.
About PepsiCo
PepsiCo is a global food and beverage
leader with net revenues of more than $65
billion and a product portfolio that includes 22 brands that
generate more than $1 billion each in
annual retail sales. Our main businesses – Quaker, Tropicana,
Gatorade, Frito-Lay and Pepsi-Cola – make hundreds of enjoyable
foods and beverages that are loved throughout the world. PepsiCo's
people are united by our unique commitment to sustainable growth by
investing in a healthier future for people and our planet, which we
believe also means a more successful future for PepsiCo. We call
this commitment Performance with Purpose: PepsiCo's promise to
provide a wide range of foods and beverages for local tastes; to
find innovative ways to minimize our impact on the environment by
conserving energy and water and reducing packaging volume; to
provide a great workplace for our associates; and to respect,
support and invest in the local communities where we operate. For
more information, please visit www.pepsico.com.
SOURCE PepsiCo