Beverage giant Coca-Cola Co. has sued PET recycler Pure Tech Plastics LCC in a breach of contract dispute, claiming that two units of the beverage giant are owed more than $5 million.

Coke also asked the court to order Pure Tech to immediately turn over to it "the collateral" pledged as security for the debt. That could be the new food-grade PET recycling plant being built in Richmond, Ind., by Perpetual Recycling, which bought Pure Tech shortly after securing a line of revolving credit -- which is the center of the dispute -- from Coca-Cola Financial Corp. in October 2008. The lawsuit, fil...