PepsiAmericas, Inc. (NYSE:PAS) announced its pledge of financial support to its affected employees and $500,000 in funding and drinking water for Hurricane Katrina relief efforts. Today PepsiAmericas reported that preliminary assessments of its facilities in Louisiana indicated minimal damage as a result of Hurricane Katrina. PepsiAmericas has one production facility and four distribution facilities in the affected areas of Louisiana. Some of these facilities have power and utilities as of Thursday.
“It will take some time before we can assess the full impact of Hurricane Katrina on our Louisiana operations,” said Robert C. Pohlad, Chairman and Chief Executive Officer. “While we expect to be operational in some facilities as water and power are restored, the status of our customers is not yet known. Our first priority continues to be the safety and wellness of our employees and seeing to their immediate needs.”
The Company maintains insurance to cover certain losses related to property damages and the impact of business interruption.
The Company’s U.S. manufacturing facilities include 16 production facilities and 104 distribution facilities. Sales from the affected facilities account for approximately three percent of PepsiAmericas’ total sales, with Louisiana representing one of the 19 states in which the Company operates in the U.S.
PepsiAmericas is the second largest Pepsi bottler with operations in the U.S., Central Europe, and the Caribbean. PepsiAmericas manufactures, distributes and markets a broad portfolio of Pepsi-Cola, and other national and regional brands. PepsiCo, Inc. (NYSE:PEP) beneficially owns an approximately 42 percent equity interest in PepsiAmericas. Information about PepsiAmericas can be found at www.pepsiamericas.com.