Coca-Cola Co. Challenges Asbestos Related Litigation ---------------------------------------------------- Published December 27, 2002 The Coca-Cola Company (Coke) asked a judge to toss out a claim by a water filtration company it owned more than 20 years ago that is seeking $10 million from Coke to pay for legal expenses related to an asbestos lawsuit. The world's largest beverage maker said it has no past, present or future responsibility to pay for expenses incurred by Milwaukee-based Aqua-Chem Inc. Coke filed the complaint against Aqua-Chem in Fulton County Superior Court. Atlanta-based Coke bought Aqua-Chem in 1970 because it was interested in the company's water filtration technologies. Coke sold the business in 1981 to focus on its core business. A division of Aqua-Chem made a boiler that contained gaskets purchased from outside suppliers, Coke said. Several years after Coke sold the company, Aqua-Chem was sued because there was asbestos in some of the gaskets. Aqua-Chem has demanded that Coke reimburse it for about $10 million for legal costs incurred over the last 18 years and acknowledge liability for certain future expenses. "Aqua-Chem's asbestos claimants are and should continue to be covered by existing insurance," Coke said in a statement. "Further, regardless of the outcome of this litigation, the Coca-Cola Co. believes that any uninsured financial liability is not material to the financial position of the company." COMPANY PROFILE The Coca-Cola Company (NYSE: KO) 1 Coca-Cola Plaza Atlanta, GA 30313 Phone: 404-676-2121 Fax: 404-676-6792 http://www.cocacola.com Employees : 38,000 Revenue : $ 20,092,000,000 Net Income : $ 3,969,000,000 Assets : $ 22,417,000,000 Liabilities : $ 11,051,000,000 (As of December 31, 2001) Description: The Coca-Cola Company brackets the #2 soft drink, Pepsi, with #1 Coca-Cola classic and #3 diet Coke. Among its other brands are Barq's, Fruitopia, Minute Maid, POWERaDE, Sprite, and Dasani water. It also sells Evian water in North America and Danone's spring water brands in the US. Coca-Cola sells Crush, Dr Pepper, and Schweppes outside of Australia, Europe, and North America. The firm, which does no bottling, sells about 300 drinks brands, including coffees, juices, sports drinks, and teas, in some 200 nations. Coca-Cola commands about 50% of the global soft-drink market. ------------------------------------------------------------------- LitigationDataSource.com