Russia: Coca Cola to close two of four juice plants
Coca Cola Company has announced plans to close two of its four juice production sites in Russia due to the shrinking market.
The two plants are run by Coca Cola’s Nidan unit, and production will now shift to its Multon juice unit. The process is to be completed before the end of the year, according to spokesman Vladimir Kravtsoy.
The plants affected are located in Novosibirsk in Siberia and in the Moscow area.
Mr Kravtsoy said “The juice market fell by 5% last year and the performance of Nidan was worse than the market". He added that the company had been considering the closures for some time.
Nidan was purchased by Coca Cola in 2010 for $276 million and at the time was the fourth largest juice maker in Russia. Multon, which it bought in 2005, has two sites with a combined production capacity of over 790 million litres a year.