Coke Wants Declaration on Former Subsidiary's Asbestos Liabilities

ATLANTA - International beverage giant the Coca-Cola Company has filed a declaratory judgment action in Georgia claiming it is not responsible for asbestos-related expenses incurred by a former subsidiary. The Coca-Cola Company v. Aqua-Chem, Inc., No. n/a (Ga. Super. Ct., Fulton Cty.).

In a complaint filed Dec. 20 in Fulton County Superior Court, the company said it wants the court to determine whether it has an obligation to cover nearly $10 million in asbestos-related liabilities incurred over the last 18 years by Aqua-Chem, Inc. Coca-Cola purchased Aqua-Chem in 1970 and later sold the company to Lyonnaise American Holding pursuant to …