Pepsi-Cola Products Philippines to Close Snacks Production Line
September 24 2019 - 9:46PM
Dow Jones News
By Ben Otto
Pepsi-Cola Products Philippines Inc. (PIP.PH) said it will be
closing its snacks production line.
The local bottler, majority owned by South Korea's Lotte Corp.
(004990.SE) and PepsiCo Inc. (PEP), said in a statement posted by
the Philippine stock exchange on Tuesday that it would cease
production of locally made Cheetos to focus on core business in the
production and distribution of beverages in the Southeast Asian
nation.
The company said PepsiCo would continue to import and sell
Cheetos and other snack brands in the Philippines.
Write to Ben Otto at ben.otto@wsj.com
(END) Dow Jones Newswires
September 24, 2019 21:31 ET (01:31 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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