ECONOMY

Coca Cola Hellenic concentrates production at Schimatari plant

coca-cola-hellenic-concentrates-production-at-schimatari-plant

The Coca-Cola Hellenic Bottling Company, one of the world’s biggest Coke bottlers, announced on Wednesday it will concentrate its production and storage activity at its plant at Schimatari, north of Athens, transferring those activities from its installations at Volos, central Greece, and Kato Kifissia in Athens.

CCHBC is planning to invest 24 million euros at the Schimatari plant in order to meet the new requirements, making it the group’s seventh largest in the 28 countries where the company has a presence. The long-term aim is for the plant to increase its exporting activity.

This is the third restructuring move concerning the group’s production in Greece since 2012, which, as a high-ranked official told Kathimerini, “constitutes the optimum solution to keep employment in Greece.”

The firm announced on Wednesday that the Schimatari plant will account for 96 percent of the refreshments production volume, with 67 percent of the company’s sales coming from that plant. It will also produce the company’s entire exporting output in refreshments and juice, covering 100 percent of the needs of Coca-Cola and Sprite in aluminum cans.

CCHBC stock fell 1.14 percent on Wednesday at the Athens bourse.