Cott Responds To Can Supplier's Lawsuit.Business Editors TORONTO--(BUSINESS WIRE)--Dec. 5, 2001 Cott Corporation (NAS (1) See network access server. (2) (Network Attached Storage) A specialized file server that connects to the network. A NAS device contains a slimmed-down operating system and a file system and processes only I/O requests by supporting the popular :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 ) today responded in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Federal Court for the Eastern District of Pennsylvania to a lawsuit filed by its supplier of aluminum cans, Crown, Cork & Seal Company, Inc. The suit, which Cott said was entirely without merit, was filed on November 27, 2001, but has not yet been served. At the same time as it filed its defense to the suit, Cott also filed a counterclaim A claim by a defendant opposing the claim of the plaintiff and seeking some relief from the plaintiff for the defendant. A counterclaim contains assertions that the defendant could have made by starting a lawsuit if the plaintiff had not already begun the action. and asked the Court to direct Crown to honor the terms of the existing contract between the two companies. Cott expects the dispute to be resolved in a manner that will not materially impact its interests. "We regret that a valued long-term supplier has taken this course of action," said Frank E. Weise, Cott president and chief executive officer. "We will continue our efforts to work through this matter, but we are determined that our rights and those of our customers and other stakeholders will be honored." Cott and Crown signed a worldwide multi-year contract in 2000 covering Cott's requirements for aluminum cans and ends for packaging its beverages. This lawsuit constitutes an attempt by Crown to increase prices on a unilateral basis that arbitrarily and unacceptably alters the terms of the supply agreement, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Cott's response. Weise concluded, "We are confident that the original terms and conditions of the contract will be upheld. We expect a favorable outcome." 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 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 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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