The Philippines will continue to be a key market for consumer goods giant Procter & Gamble (P&G), with investments for expansion to continue over the long term, according the the Philippine Daily Inquirer.
P&G Philippines president and general manager Siddik Tetik says the company’s business in the country continued to grow amid stiff competition in the market, and is poised to grow even more when its ongoing expansion program goes into full swing.
“The Philippines is one of the most important markets for P&G. It’s sizable and profitable. We have huge shares in the segments we’re in, and the market has been steadily growing over the past several years,” he tells the Philippine Daily Inquirer.
“Our investments in the country will be an ongoing effort. If we see opportunities in the market and in the region, we will invest. The Philippines is one of the markets we will continue to invest in,” he adds.
P&G Philippines has earmarked P2.5 billion to expand its Cabuyao plant, to boost its capacity to produce popular diaper brand Pampers by 30-40% and double its market share at the end of the three-year ramp-up period.
In an earlier interview, P&G Philippines plant manager Fanny Wu said the plant expansion would boost the capacity of the company’s baby care line by 10 million cases.
The first new line should be ready for production by next year, with a utilization rate of 70-80 percent, she said.