Dollar Holds Firm as Strong U.S. Data, Fed Expectations and Global Central Bank Moves Shape Markets 
Saks Global to End Saks on Amazon Partnership Amid Bankruptcy Restructuring 
China and Uruguay Strengthen Strategic Partnership Amid Shifting Global Order 
Elon Musk’s SpaceX Acquires xAI in Historic Deal Uniting Space and Artificial Intelligence 
S&P 500 Rises as AI Stocks and Small Caps Rally on Strong Earnings Outlook 
Jensen Huang Urges Taiwan Suppliers to Boost AI Chip Production Amid Surging Demand 
Indian Rupee Strengthens Sharply After U.S.-India Trade Deal Announcement 
South Korea Inflation Hits Five-Month Low as CPI Reaches Central Bank Target 
Oil Prices Steady as Markets Weigh U.S.-Iran Talks, Dollar Strength Caps Gains 
U.S. Stock Futures Slip as Markets Brace for Big Tech Earnings and Key Data 
Boeing Secures New Labor Contract With Former Spirit AeroSystems Employees 
US Judge Rejects $2.36B Penalty Bid Against Google in Privacy Data Case 
SpaceX Reports $8 Billion Profit as IPO Plans and Starlink Growth Fuel Valuation Buzz 
Disney Board Nears CEO Decision as Josh D’Amaro Emerges as Leading Candidate 
Bob Iger Plans Early Exit as Disney Board Prepares CEO Succession Vote 
JPMorgan Lifts Gold Price Forecast to $6,300 by End-2026 on Strong Central Bank and Investor Demand 
Coca-Cola will be spending $42 million to build its new bottling and distribution facility in South Richmond, Canada. It was reported that the beverage company inked a lease deal for the land where it can expand its production and continue to serve its customers in B.C.
According to the Daily Hive, Coca-Cola will be leasing a 209,000 square feet space inside the new Richmond Industrial Centre complex. The facility is also close to the port area, so it is an ideal location for the company's production and distribution operations.
Coca-Cola will divide the investment funds into two, spend $24 million for the production line, and use the remaining $18 million for its warehouse, sales, and distribution center.
The new bottling line will be equipped with machinery that will enable the use of pre-form bottles and lessen the packaging emissions. This system will also help increase the capacity of the plant.
The new hub will combine the capacity of the beverage producer's existing distribution centers in Coquitlam and Richmond. Once completed, it will also become Coca-Cola's new home base of local fleet and equipment service operations.
"We are a family business and, as the Lower Mainland's local bottler, we're very committed to investing in our local business for the long-term," the chief executive officer at Coke Canada Bottling, Todd Parsons, said in a press release.
He added, "We are guided by our Mission to deliver optimism and create a better future for our customers, consumers, and communities. By increasing our manufacturing capacity and consolidating our warehouse and distribution operations, we're ensuring we're able to grow our business and continue to make, distribute, merchandise, and sell B.C.'s favorite beverages for many years to come."
Finally, Coca-Cola's new production line in Richmond is set to open in Spring next year. The following year, in 2024, the logistics facility will be launched next in the Spring time as well.
Coca-Cola Canada has 550 workers in all across the Lower Mainland, and this number may increase once the hub opens. The company will be supplying products to at least 5,000 in the area.
