22 April 2019

PepsiCo China loss shrinks on Tingyi alliance, paper says

United States food and beverage giant PepsiCo Inc. said it significantly narrowed its loss in China in the first half after its strategic alliance with Tingyi (Cayman Islands) Holding Corp. (0322.HK) added more than 35 production lines, Beijing Times reported Thursday, citing both companies. Tingyi, a Taiwan maker of instant noodles and soft drinks, acquired PepsiCo’s Chinese beverage business in a share swap last year. Tingyi’s growth outpaced that of its competitors and the market as a whole in the first nine months, chairman Wei Ying-chou was quoted as saying.

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