Baghdad Soft Drinks Co

Baghdad Soft Drinks Co (ISX: IBSD on the Iraq Stock Exchange) is a Soft drinks Bottling company in Iraq.It is the company that has the exclusive licence to sell Pepsi products in Iraq.

PepsiCo International's franchise agreement authorises Baghdad Soft Drinks Company to produce and distribute PepsiCo's Pepsi-Cola, Seven-Up and Mirinda soft drink brands.

Many bottling companies are franchisees of corporations such as Coca-Cola and PepsiCo who distribute the beverage in a specific geographic region.

It has a staff of ~1,400, and the 2004 agreement with pepsi is expected to create some 2,000 new jobs at Baghdad.

Major stocks on the Iraq Stock Exchange include Bank of Baghdad, Baghdad Soft Drinks Co, Iraqi Tufted Carpets Co, Hader Marble and Thesar Agriculture.[1]

Iraqi Pepsi is currently selling about 7.2 million bottles a month, though this number drops subject to power outages.[2]

History

Pepsi-Cola in Iraq goes back to 1950, when the brand was launched. Pepsi grew to become Iraq's leading soft drink brand, with Baghdad Soft Drinks Company, becoming a Pepsi franchisee in 1984.[3]

However, that relationship ended in 1990, when PepsiCo ceased doing business in Iraq after US and international trade sanctions barred trade with the country.

Hamid Jassim Khamis, serves as managing director, but resigned after he clashed with Uday Hussein, son of the dictator Saddam Hussein, who bought a 10 per cent share of the company.

During the 2003 invasion of Iraq, the local Pepsi-maker was forced to replace authentic PepsiCo concentrates with counterfeit varieties smuggled in from eastern Europe,[4] due to international regulation.

After 2003, Uday Hussein's stake was frozen and Mr Khamis was brought back. [5]

Current Chairman of board of PEPSI Cola in Iraq is Essam Kareem Kzar Alasadi

PepsiCo's rival Coke returned to Iraq in January 2004. A new company with the name The Coca Cola Bottling Company of Iraq has been set up. Coca-Cola drinks are imported into Iraq from Jordan, Turkey and other neighbouring countries. Pepsi Cola had been the only cola in Iraq since the mid-1960s Arab League boycott of israel, because of Coke's investments in Israel.

Through local lawyers, PepsiCo is trying to re-register its trademark in Iraq, hoping for a crackdown on counterfeiters.

See also

References

  1. ↑ "Putting stock in Iraq Baghdad exchange is a whirlwind of fierce optimism". sfgate. May 24, 2005. Retrieved 2008-12-13. |first1= missing |last1= in Authors list (help)
  2. ↑ "Now Cola Battle Rages in Baghdad". Retrieved 2008-12-13.
  3. ↑ "Demand-for-suppliers". foodproductiondaily. Retrieved 2008-12-13.
  4. ↑ "Pepsi seeks to rebuild as 'cola war' looms". iraqupdates.com. 4 July 2005. Retrieved 2008-12-13.
  5. ↑ "Coca-Cola to open Iraq plant". (Reuters). 28 June 2005 (Reuters). Retrieved 2008-12-13. Check date values in: |date= (help)

External links

This article is issued from Wikipedia - version of the Saturday, December 21, 2013. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.