PHILADELPHIA, March 14, 2014 /PRNewswire/ -- Crown Holdings, Inc. (NYSE: CCK), a global leader in consumer packaging, today announced that the European Commission has approved, subject to certain commitments and conditions, its pending acquisition of Mivisa Envases, SAU, a leading Spanish manufacturer of two- and three-piece food cans and ends.
The approval of the Commission is subject to Crown entering into final binding agreements, with purchasers to be approved by the Commission, for the sale of Crown's Spanish food can business and Mivisa's facility in Horst, Netherlands.
The impact of the divestitures would have been to reduce net sales by approximately €113 million in 2013.
Mivisa, based in Murcia, Spain, is the largest food can producer in both the Iberian Peninsula and Morocco. Primarily serving the vegetable, fruit, fish and meat segments, Mivisa currently operates ten manufacturing facilities, including six in Spain and one in Morocco.
About Crown Holdings, Inc.
Headquartered in Philadelphia, PA, Crown Holdings, Inc. (NYSE: CCK) is a leading manufacturer of packaging products for consumer marketing companies around the world. Crown makes a wide range of metal packaging for food, beverage, household and personal care and industrial products and metal vacuum closures and caps. As of December 31, 2013, the Company operated 147 plants located in 40 countries, employing 21,856 people.
Cautionary Note Regarding Forward-Looking Statements
Except for historical information, all other information in this press release consists of forward-looking statements. These forward-looking statements involve a number of risks, uncertainties and other factors, including the Company's ability to enter into final binding agreements for the sale of the divestment package to a suitable purchaser and close the divestiture transaction in a timely manner or at all. Important factors that could cause the statements made in this press release or the actual results of operations or financial condition of Crown to differ are discussed under the caption "Forward Looking Statements" in Crown's Form 10-K Annual Report for the year ended December 31, 2013 and in subsequent filings made prior to or after the date hereof. Crown does not intend to review or revise any particular forward-looking statement in light of future events.
For more information, contact:
Thomas A. Kelly, Senior Vice President and Chief Financial Officer, (215) 698-5341, or
Thomas T. Fischer, Vice President, Investor Relations and Corporate Affairs (215) 552-3720.
SOURCE Crown Holdings, Inc.
