Soft drinks

Coca-Cola to offer 12-pack for better refrigerator fit

Soda makers rarely tinker with packaging, and for good reason.

It’s time-consuming, often taking months of work just to study the issue. And it isn’t cheap. Converting a single production line can cost hundreds of thousands of dollars.

However, Coca-Cola Enterprises is converting its 12-packs from the boxy style that debuted in 1977, above at left, to one that fits better in refrigerators, right.

An army of Coca-Cola staffers has been working behind the scenes on the switch in two test markets, Atlanta and Chicago.

The plan is to eventually convert all of Coca Cola’s system to the new 12-packs.

It’s the biggest change in packaging since Coke bottlers switched to the so-called contour plastic bottle more than nine years ago.

Resignation

Sauer names new CEO

Sauer-Danfoss announced Wednesday president and CEO David Pfeifle will resign June 30 and be replaced by David Anderson, who currently serves as the company’s executive vice-president.

Pfeifle said he’s resigning after his doctor advised him to reduce his activities following heart bypass surgery last August.

The company also announced Wednesday it is issuing a dividend of 7 cents per share for its second quarter. The company operates a manufacturing plant in Lawrence’s East Hills Business Park.

Wall Street

Kmart reviewing accounting

Kmart Corp. is looking into its accounting methods, the company said Wednesday, which could result in a change to its already reported 2001 quarterly earnings.

Kmart asked for an extension to file its annual report with the Securities and Exchange Commission.

In January, Kmart said it had received an anonymous letter claiming to be from employees about unspecified accounting matters.

Utility

Aquila’s earnings drop

Kansas City, Mo.-based Aquila Inc. reported Wednesday that first-quarter earnings plunged 40 percent to $44.4 million.

The earnings of 32 cents per share compared with earnings during the same period last year of $73.5 million, or 69 cents per share.

Aquila was formerly known as UtiliCorp United Inc.