Cott to acquire blow molding and bottling equipment
Mississauga, Ont.-based Cott Corporation and GE Commercial Finance have announced that they have signed a lease fin...
Mississauga, Ont.-based Cott Corporation and GE Commercial Finance have announced that they have signed a lease financing agreement for blow molding and water bottling equipment manufactured by Sidel Group.
GE Commercial Finance will provide US$31.4 million in financing for water bottling equipment, and lease the equipment to Cott for an eight-year term.
The equipment will provide the retail soft drink supplier with a state-of-the-art water bottling capability, and allow the company to transition current production away from selected contract package and other “cost-disadvantaged” arrangements.
“It benefits our business and the environment by enabling us to produce water in lightweight bottles at lower cost,” said Cott’s North American president Rick Dobry. “This equipment enhances Cott’s ability to compete in the large and fast growing bottled water category.”
The company said the new equipment will enable it to develop additional “green” products. “Cott will be introducing proprietary new bottle designs that are consumer preferred and among the most environmentally responsible packages in the beverage industry,” said Cott’s Dobry.