The Coca-Cola Company (KO) is investing $70 million to upgrade its bottling plant in Calgary, Alberta.
The upgrade represents the Atlanta, Georgia-based beverage company’s biggest investment in any of its facilities since 2018 and will be used to build a new warehouse in Calgary.
The upgraded plant will also feature a new inventory management system and have increased capacity, which Coca-Cola believes will improve customer service and reduce greenhouse gas emissions.
The non-alcoholic beverage sector that includes Coca-Cola has seen significant growth in recent years.
The Conference Board of Canada recently estimated that the non-alcoholic beverage sector contributed more than $5 billion to the Canadian economy in 2019.
Coca-Cola’s stock has decreased 4% in the last year to trade at $60.58 U.S. per share.
