PepsiCo has unveiled a new US$40m research and development centre in Shanghai today (13 November), its largest outside of the US.
The food and beverage facility will be an Asia-Pacific hub for PepsiCo's new product, packaging and equipment innovation, the company said today (13 November). A culinary centre in the building will help PepsiCo tailor product tastes to local preferences while a pilot manufacturing plant will allow faster product testing, the company said.
Saad Abdul-Latif, CEO of PepsiCo's operations in Asia, the Middle East and Africa, called the centre a "game-changer for our business".
He said: "We expect [it] will fast forward our innovation throughout the entire region," Abdul-Latif said.
PepsiCo said it almost tripled its business in emerging and developing markets from $8bn in annual net sales in 2006 to $22bn last year.
In July, PepsiCo opened its sixth food manufacturing plant in China. The facility, located in Wuhan province, produces Lay's potato chips.
