PepsiCo unveils R&D center in China
PepsiCo has opened its largest food and beverage research and development (R&D) center outside of North America in Shanghai, China.
The facility will also have a pilot manufacturing plant to test new product ideas and speed up the pace of the company's innovation in China and other growing Asian markets.
It will also work with other PepsiCo R&D locations around the world to share insights and best practices.
PepsiCo Asia Middle East & Africa CEO Saad Abdul-Latif said that the Shanghai facility will fast forward the company's innovation throughout the entire region
PepsiCo chief scientific officer and executive vice president Mehmood Khan said: "This center will play an important role in our global R&D network by bringing cutting edge technology and innovation to our businesses in China and throughout Asia Pacific and partnering with other PepsiCo locations to achieve new breakthroughs in other parts of the world."
China and the Asia Pacific region are key components of PepsiCo's overall plan to drive growth in emerging and developing markets globally.
The beverage giant nearly tripled its business in emerging and developing markets from $8bn in annual net revenue in 2006 to $22bn in 2011.