From Dow Jones:
As part of its efforts to boost its sales in China, Coca-Cola Co. (KO) is investing $80 million to build a new China headquarters and research and development center in Shanghai , the company’s new president for China business, Douglas Jackson, said Monday.
The R&D center, which is expected to be finished by the end of 2008, will be one of six Coca-Cola research centers globally, and will develop products for China and other markets, Jackson said. With the completion of the new R&D center, Coca-Cola will increase its R&D staff in China to 200, from 40 now. “Consumers in this part of the world are changing rapidly…I think having that kind of R&D center on our doorstep is going to be great in terms of speed to market,” said Jackson, who has been the head of Coca-Cola in China for three months. [Full Text]