'Expect More' Says Cott Corporation's CEO; Company Broadens Strategy For Future Growth.Business Editors TORONTO--(BUSINESS WIRE)--April 18, 2001 Cott Corporation (Nasdaq:COTT) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BCB BCB Banco Central do Brasil (Brazil's central bank) BCB Borland C++ Builder BCB Bangladesh Cricket Board BCB Benzocyclobutene (low loss dielectric substrate) BCB Bumiputra-Commerce Bank BCB Broadcast Band .) President and Chief Executive Officer Frank E. Weise told shareowners today at the Company's annual meeting that Cott is pursuing a growth strategy. "We are beginning to grow the Cott of the future," Weise told attendees at this year's annual meeting, held at Toronto's News Theatre, "and we are energized by the possibilities and opportunities ahead of us." Last year, sales for the Company's 15 largest customers rose 8 percent, well ahead of industry category growth. Gross margin increased in 2000 to 16.7% of sales and earnings per share or EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. grew 36% to 38 cents. Weise said the Company is making the strategic shift from "Turnaround" to "Growth". He noted that the Company's record has now extended into 2001, as supported by first quarter 2001 results announced yesterday. The Company reported its ninth consecutive profitable quarter with earnings increasing by 155% versus those of last year's first quarter. "The last three years have been a test to the drive and commitment of each member of our organization," added Weise. "We can all be proud of the Company's record to deliver on our promise." The Company also awarded its third annual Gerald N. Pencer Award for Excellence in Innovation to Cott USA and its Bentonville Team, whose focused effort resulted in being name a "Supplier of the Quarter" by Wal-Mart in the 2nd and 3rd quarters of 2000. The team was represented by Bentonville based Jim McCormick For the baseball infielder, see . James McCormick (November 3 1856 - March 10 1918) was a former right-handed pitcher in Major League Baseball. A native of Glasgow, he was the first ballplayer born in Scotland to appear in a major league game. , vice-president business development, and Bruce Walz, director supply chain development. The award, named after Cott's late founder, includes a prize of $10,000; $5,000 in Cott stock and $5,000 in cash. During the formal business meeting, PriceWaterhouseCoopers was re-appointed auditor to the Company. Shareowners also re-elected the 11-member Cott Board of Directors, consisting of Colin J. Adair, W. John Bennett
John Bennett may refer to:
n. A twilled cloth of worsted or worsted and wool, often used for suits. [Middle English sarge, from Old French, from Vulgar Latin *s Gouin, Thomas M. Hagerty, Stephen H. Halperin, David V. Harkins, True H. Knowles, Fraser D. Latta, Donald G. Watt, and Frank E. Weise. In addition, a motion was passed to amend the Company's 1986 common share option plan. About Cott Corporation Cott Corporation is the world's largest retailer brand soft drink supplier, with the leading take home carbonated soft drink market shares in this segment in its core markets of the U.S. Canada and the U.K. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statements This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. reflecting management's current expectations regarding future results of operations, economic performance, financial condition and achievements of the Company. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate securities commissions, and include, without limitation, stability of procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. costs for raw and packaging materials, competitive activities by national, regional and retailer brand beverage manufacturers, the Company's ability to integrate acquired business into its operations, fluctuations in currency versus the U.S. dollar, the uncertainties of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , and retailers' continued commitment to their retailer brand beverage programs. The foregoing list of factors is not exhaustive. |
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