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Key Developments: Coca-Cola Co (KO.N)

KO.N on New York Stock Exchange

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27 May 2016
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Latest Key Developments (Source: Significant Developments)

Coca-Cola announces new international structure
Tuesday, 24 May 2016 06:55am EDT 

Coca-cola Co : The Coca-Cola Company announces new international structure, promotes key leaders . Dan Sayre, will continue as president, Western Europe . In Africa, two business units will be reconfigured to more closely align operations with bottling operations on continent . In Europe, Central,Southern Europe and Russia, Ukraine,Belarus business units to be combined into a new business unit-Central and Eastern Europe . Will form Europe, Middle East, Africa group, consisting of business units that currently make up Europe and Eurasia and Africa groups . Brian Smith, currently president of company's Latin America group, will become president, EMEA group . Company's bottling investments and North America groups are not impacted by today's announcements .Atul Singh, currently president of Asia Pacific group, will transition to role of chairman, asia pacific group.  Full Article

SA's Competition Tribunal approves Coca-Cola beverages merger with bottling cos with conditions
Tuesday, 10 May 2016 10:44am EDT 

South Africa's Competition Tribunal: Says Coca-Cola beverages merger with bottling companies approved with conditions . Told that conditions dealt with and settled all the parties’ disputes; no party contested merger approval subject to agreed conditions . Will be providing reasons for its approval in due course . Says conditions are as given by the parties on may 9 to the tribunal . Says conditions are as given by the parties on May 9 to the Tribunal (Bengaluru Newsroom: +91 80 6749 1136).  Full Article

Coca-Cola Co gives voluntary retirement scheme to 65 employees at HCCB bottling plant - Economic Times - Reuters News
Tuesday, 15 Mar 2016 01:20pm EDT 

Coca-Cola Co:Coca-Cola has let go of 65 employees at bottling unit Hindustan Coca-Cola Beverages (HCCB) through a voluntary retirement scheme (VRS), even as it suspended operations at five plants citing flagging demand - Economic Times.The company is also exploring options to sell the company-owned bottling business.An HCCB spokesperson confirmed the development. These five factories employed 390 people and half of them are still on the rolls of the company and have yet to make a decision.One-third of the employees have chosen to relocate to other locations and the remaining have opted for VRS, the spokesperson told ET.This is possibly the largest number of employees that Coca-Cola has let go of in the country at any one given time, though the company did not confirm it.  Full Article

Coca-Cola Company Announces Annual Dividend Increase
Thursday, 18 Feb 2016 09:15am EST 

Coca-Cola Company:Approved the Company's 54(th)consecutive annual dividend increase, raising the quarterly dividend 6 percent from 33 cents to 35 cents per common share.This is equivalent to an annual dividend of $1.40 per share, up from $1.32 per share in 2015.The first quarterly dividend is payable April 1, 2016, to shareowners of record as of March 15, 2016.  Full Article

The Coca-Cola Co gives FY 2016 guidance
Tuesday, 9 Feb 2016 06:56am EST 

The Coca-Cola Co:Expects organic revenue to be up 4% to 5% in FY 2016, in line with our long-term target.Says net impact of acquisitions and divestitures is expected to be a 4 to 5 point headwind and based on the current spot rates, currency is expected to be a 4 point headwind, including the impact of hedged positions.Expects comparable currency neutral income before taxes (structurally adjusted) to grow 6% to 8% in FY 2016, in line with the company's long-term target, as strong operating profit growth is expected to be partially offset by increased interest expense.Expects FY 2016 comparable currency neutral EPS growth to be 4% to 6% including the impact of 3 to 4 points of structural headwind, primarily due to refranchising, on comparable currency neutral income before taxes.  Full Article

Teamsters local 727 end strike after reaching tentative agreement with The Coca-Cola Co
Tuesday, 29 Dec 2015 09:43pm EST 

The Coca-Cola Co:Strike ends as Chicago teamsters reach tentative agreement with Coca Cola.Teamsters local 727 says upon ratification,tentative agreement will transfer local 727 members into new health and welfare plan.Teamsters local 727 reach tentative agreement Coca Cola-on a fair three-year contract for 319 production and warehouse workers.Teamsters local 727 says workers are returning to their regular schedules at facilities in niles and alsip, effective immediately.  Full Article

The Coca-Cola Co - NGT notice may disrupt Coca-Cola's UP bottling plant functioning - ECOTIM
Wednesday, 23 Dec 2015 06:03am EST 

The Coca-Cola Co:Coca-Cola's bottling arm Hindustan Coca-Cola Beverages may face disruptions at one of its bigger plants after environment watchdog National Green Tribunal issued a notice to the company seeking explanations on its plant's drainage and waste "polluting" the environment - ECOTIM.The National Green Tribunal (NGT) said "facts in a pollution report" it had ordered on HCCB's plant at Mussoorie Gulawati Road industrial area in Ghaziabad were "alarming". - ECOTIM.It also said the Uttar Pradesh Pollution Control Board (UPPCB) should take note of the matter in the interest of environment - ECOTIM.A company spokesperson told ET that HCCB will file its response to the tribunal's notice over its plant at Mussoorie Gulawathi Road industrial area in Ghaziabad to the Central Pollution Control Board (CPCB) and UPPCB before the next NGT hearing on January 14, 2016. - ECOTIM.HCCB's plant at Plachimada in Kerala is no longer functional following local agitations while its plant in Varanasi is also facing local resistance over charges of ground water depletion. - ECOTIM.The plant discharge waste at a pond. - ECOTIM.The company defended that, saying the Uttar Pradesh State Industrial Development Corporation (UPSIDC) had not provided drainage system in this industrial area and directed the beverage maker to discharge waste at a designated pond. - ECOTIM.  Full Article

The Coca-Cola Co - China detains 10 company officials over fabricated pollution data - Reuters
Wednesday, 16 Dec 2015 07:03pm EST 

The Coca-Cola Co:Police in China have detained 10 company officials for fabricating pollution data, the environment ministry said on Thursday, as the government steps up inspections of businesses amid growing public discontent over pollution - RTRS.The drive follows a red alert declared in Beijing last week over acrid smog that shrouded the capital, which triggered curbs on vehicle use and school closures, with a government call for a halt to "large-scale, outdoor activity" - RTRS.Eight firms, from a sewage plant in the southern city of Dongguan to a Coca-Cola KO.N joint venture in northwestern Gansu province, were accused of using fake figures to hinder or manipulate environment checks, the Ministry of Environmental Protection said on its website. - RTRS.Special law enforcement teams from the ministry uncovered the cases, it said, adding that the firms "unscrupulously" falsified data, in a bid to evade regulations. - RTRS.The ministry said some of the companies involved may face criminal lawsuits. Chinese law prescribes jail terms of up to seven years for pollution offenders, state news agency Xinhua said. - RTRS.  Full Article

The Coca-Cola Co pulls Mexico ad deemed offensive to indigenous - AP
Wednesday, 2 Dec 2015 06:46pm EST 

The Coca-Cola Co:A Coca-Cola Mexico spokesman says the company apologizes and has pulled an online ad after it was deemed offensive to the country's indigenous by consumers, media and advocacy groups - AP.Director of Publicity Diego Bracamontes says the ad was pulled late Tuesday after about a week online in Mexico, and that the company never meant to offend anyone - AP.The "Open Your Heart" holiday campaign came under fire with its portrayal of festive, fashion-model-looking white people driving into the remote hills of Oaxaca to haul Coke and a Christmas tree as a service project for the indigenous Mixe community of Totontepec Villa de Morelos - AP.Bracamontes told The Associated Press on Wednesday that the message was misinterpreted, and that the campaign is about unity and happiness across communities -AP.  Full Article

The Coca-Cola Co - Teamsters Local 727 says Coca Cola-refreshments workers to go on unfair labor practice strike
Monday, 30 Nov 2015 04:13pm EST 

The Coca-Cola Co:Teamsters Local 727 says more than 225 Coca Cola-refreshments workers voted to authorize an unfair labor practice strike.Teamsters Local 727 -teamsters voted by 10-to-1 margin to authorize "strike".  Full Article

Coca-Cola launches debut 4 and 8 year kangaroo bond offering

SYDNEY, May 31 (IFR) - Coca-Cola has announced details of a debut Kangaroo bond transaction with the global drinks giant expected to price four and eight-year bonds no later than tomorrow, June 1.