Coca-Cola bottler to detail costs of exiting Russia

Coca-Cola bottler to detail costs of exiting Russia

Coca-Cola Co’s (KO.N) bottler Coca Cola HBC AG (CCH.L) will on Thursday detail the cost of stopping production and sales of Coke in Russia, a goal that has taken five months to reach as the company used up its existing supplies. Atlanta-based Coca-Cola Co, which relied on Coca Cola HBC to manufacture and distribute its sodas in Russia, said in March it would suspend production in the country. The Swiss-based bottler, in which Coca-Cola has a 20% stake, has since then been using up its remaining stock. It placed its last orders for concentrate in March.
Coca-Cola said in a statement that regardless of the suspension of its business in Russia, “the Coca-Cola Company takes the protection of its intellectual property rights seriously and protects its goodwill and reputation where third parties seek to trade off the company’s renowned, worldwide reputation.

“Our business in Russia remains suspended, and our actions support this decision,” Coca-Cola said. “The production of the Coca-Company brands in Russia has stopped, and we have not authorized any exports of The Coca-Cola Company brands into Russia.”

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