ATLANTA - Nora Beverages Inc.'s PET bottle production plant is included in Coca-Cola Enter-prises Inc.'s plan to acquire the bottled water producer based in Mirabel, Quebec. Coca-Cola signed a letter of intent to buy Nora for about C$161 million (US$117.5 million) to expand its bottled water business. Coca-Cola expects to complete the transaction in the third quarter of this year.
Coca-Cola officials were un-available to comment on how the PET bottle operation will fit their future plans for Nora. Spokes-woman Laura Asman said most Coke officials were busy with Olympic duties after Coke's July 17 announcement.
Atlanta-based Coca-Cola is the largest distributor of Nora's Naya-brand spring water, handling more than 49 percent of sales worldwide.
Nora's Mirabel plant can make 50 million PET preforms and 200 million PET bottles a year.
Asman said the deal is not expected to affect a sister company that started up in June to make PET preforms in Little Rock, Ark. Nora's majority shareholder Ahmad Hbouss is also majority shareholder of American Fiber Industries of Little Rock.