CCBPICoca-Cola Bottlers Philippines, Inc.
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Back in December, Coca-Cola Femsa said the acquisition of CCBPI increases its exposure to fast-growing emerging economies, where it expects profitable growth and long-term returns.
CCBPI runs 23 production plants, serving nearly 800,000 customers and is expected to sell some 530m unit cases of beverages in 2012.
The agreement provided for the "absorption" of the 430 UMDFP-CCBPI-IND members as regular employees of CCBPI within three months from the date of the signing of the accord.
CCBPI has 23 production plants, serving around 800,000 customers.
He claimed that the workers had been directly hired by the CCBPI until 2010, when they were placed under a contractual status with the The Redsystem Company Inc.
In early 2001, SMC bought back 65% of CCBPI from Coca-Cola Amatil of Australia.
Pure Foods registered a P190 million ($4 million) net income while CCBPI had P231 million ($5 million).
They also include earnings from CCBPI prior to its deconsolidation in April and income from an agreement not to compete with CCA in the carbonated soft drinks market in certain Asian countries.
5 million CCA shares in exchange for its 70% equity in CCBPI.
However, sales volumes were up by more than 30% in April following improved trade compliance with reduced retail prices suggested by CCBPI.
The Coca-Cola Company, which owns 30% of CCBPI, will remain CCA's largest shareholder at 33%.