US: Coca-Cola Co confident of growth in Europe - report
Kent told the Financial Times that Coca-Cola has grown in Europe during the first three quarters of the year
The chief executive of The Coca-Cola Co has said that he still believes businesses can grow in Europe, despite the current sovereign-debt crisis, according to reports.
Speaking to Bloomberg earlier this week, Muhtar Kent said that there are "pockets in Europe" such as Germany, Scandinavia and Eastern Europe that are going to do well, "despite what happens".
"We can't generalise to say Europe is one homogenous geography," Kent told the publication.
In a separate interview with The Financial Times yesterday, Kent said that Germany was "the only sane economy" in Europe, and predicted that the country would lead the continent out of the debt crisis.
He said that reforms made by the country in 2004 that "peeled back the German welfare state", are the reason why "Germany is the only sane place in Europe today".
The FT noted that Germany's 'Agenda 2010' reforms comprised of policies that relaxed rules protecting workers from job cuts, pared unemployment benefits, raised the retirement age, and created incentives for small business investment.
Kent told the publication that Coca-Cola has grown in Europe during the first three quarters of the year and that it intends to continue investing and marketing in the region.
No one was available for comment at Coca-Cola when contacted by just-drinks today.
Earlier this week, Kent told Bloomberg that the company will increase investment in the US next year to top the $3bn it has spent in 2011.
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