Pepsi to locate Global R&D for Next-Generation Products in Cork

50 New Graduate Posts to be Created

Minister for Enterprise, Trade and Employment Micheál Martin TD today (Thursday 5^th October 2006) announced that PepsiCo Inc., the largest snack-food manufacturer and the second largest non-alcoholic beverage company in the world, is to carry-out next generation product R&D at PepsiCo Ireland in Cork, with the establishment of an R&D centre-of-excellence at its Little Island facility. It is also to establish its Worldwide Concentrate Headquarters in Cork. The investments are supported by IDA Ireland.

The developments are part of PepsiCo’s strategy for the growth of its global business, which aimsto create a critical and sustainable competitive advantage through new and innovative products and to ensure that 50% of new products meet ‘good for you’ criteria, under a ‘health and wellness’ policy. The expansion of PepsiCo Ireland is strategically important in value to the parent company’s global business.

Minister Martin said “Today’s announcement is a huge vote of confidence in Ireland as a location for world-class research. It is a significant development for the PepsiCo Corporation as the centre will provide new capability and expertise for the company worldwide. It will be tremendously beneficial to University College Cork and the Moorepark Research Centre in Fermoy which will work closely with PepsiCo on its research projects. PepsiCo’s Irish management team worked hard to bring these R&D activities to Cork and their success with on-going developments and the commitment of the workforce has achieved this result.”

The R&D Centre-of-excellence will develop new Functional Beverages, which are drinks that offer health benefits. The knowledge generated will be used across the global business. It will employ 25 people, with PhD, MSc and Bachelor Degrees in food science, chemistry and engineering, working in two new purpose-built laboratories and a pilot plant

The Worldwide Concentrate Headquarters is being established in Cork to create significant operational benefits and synergies for the entire company. The company has decided to locate 25 key global roles there.

Mr. Mike Engler, Vice President Concentrate Operations, Caribbean, Europe and Asia, PepsiCo, said that the company’s decision to locate these two centres of excellence in Cork was due to the positive business experience PepsiCo has had in Ireland since the establishment of its Little Island facility in 1974. “The quality and commitment of our workforce were key factors behind this investment,” said Mr. Engler. “We look forward to building on the success of our current operations.”

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