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Business news, 03.05.2005 16:42

Coca-Cola Invests $35 M

Coca-Cola Coca-Cola HBC will spend $35 million in the next 18 months adding a new production line and building warehouses at its plant in St. Petersburg, Interfax said.

Dimitrios Makavos, general director of the company's Russian unit, made the announcement at a conference on British investment in St. Petersburg, the news service said.

Athens-based HBC is 24 percent owned by Coca-Cola Co., the world's largest soft-drink maker. Coca-Cola and its Greek unit have linked to acquire three Eastern European juice and water companies this year, adding new products to reduce their dependence on sodas.

They paid $501 million this month for Russia's second-largest juice company, Multon.

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