Coca Cola, Wisynco deepen partnership
Published:Sunday | November 28, 2010 | 12:00 AM
Wisynco Group Limited is set to deepen its relationship with Coca Cola Company, a move which, over time, may result in the Jamaican operation becoming the supply point for markets in the Southern Caribbean.
Wisynco currently holds a franchise with Coca Cola as a distributor for several of the company's products on the local market.
While details of the new arrangement were not fully disclosed, William Mahfood, managing director of Wisynco Group, said that the move signifies the strong partnership that has developed between the two companies over the years.
"It is a further strengthening and enhancement of our relationship," he said. "We will invest together in new production technology, marketing techniques, and share best practices."
He suggested that the new arrangement makes Wisynco more of a business partner to the American giant, and "no longer just a customer".
Mahfood told Sunday Business that new products and brands would be added to the line now distributed to the local market.
"(There are) some plans to increase local production and the number of Coca Cola brands," he said.
Over the next two years, Wisynco will invest some J$500 million to increase its production capacity to approximately 15 million cases per year, Mahfood said.
The St Catherine-based company currently produces 10 million cases, up from six million, after a similar J$500-million investment last year to ramp up its production lines.
"The arrangement will see real benefit to Jamaica and consumers, with a range of new products and opportunities for job creation," he said.
An announcement is to be made on Monday at a joint press conference by Coca Cola and Wisynco in Kingston.