Coca-Cola to Cancel Bottling Deal in Norway,...

Coca-Cola to Cancel Bottling Deal in Norway, Sweden: The soft drink maker said it will terminate the bottling and sales deal in the two countries and will set up its own operations, forcing beverage company Pripps Ringnes to lay off about 1,400 workers. Coca-Cola products account for about 35% of total sales for Pripps Ringnes, which is owned by Swedish auto maker Volvo and Norwegian consumer products company Orkla. Atlanta-based Coca-Cola will pay $166 million to phase out its agreement. The company said it will assume responsibility for selling its licensed products in the two countries in the first half of next year, though Pripps Ringnes will continue to bottle the products until the end of 1998.