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Posted February 21, 2013 by Viraj Shah in World
 
 

Coca-Cola(COKE) trying to cool down Chinese quality flak

Northern, WI 02/21/2013 (avauncer) - Even the largest soft-drink maker in the world Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE) cannot afford to slacken its rein on its products. It faced flak from Chinese media for allegedly selling products in China that were below the country’s quality standards. Coca-Cola imports raw material and other products to the countries that it does business in. Last year, there were reports of chemical contents in certain products like fruit juice concentrates that had been imported by Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE) into China, which lead to them being returned or destroyed on orders of the Chinese quality regulator.

A matter of misunderstanding

Coca-Cola made it very clear in an email statement in Singapore that the items in question were nothing more than research samples and that they were never intended for use in local consumable products that the company manufactures in China. They went on to quote that the misconception arose due to the incorrect tagging of certain juice concentrates that had been imported into the country. This had apparently coincided with the failed custom clearance of two cases of the Japanese blended-tea, Sokenbicha, due to incomplete documentation. Subsequently, these cases had to be returned. Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE) reiterated that all the products that are sold by it in China are totally safe for human consumption.

The shares of Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE) were up by 0.06% to close at $62.89


Viraj Shah

 
Viraj Shah has done M.Com (Finance) and currently pursuing CFP. He is a technical analyst who tracks US markets along with other global markets like India very closely. He is very passionate about stocks and believes that money can always be made in market.