Crown to Invest in Its Fourth Can Plant in Brazil to Meet Growing Demand
PHILADELPHIA, Oct 26, 2010 /PRNewswire via COMTEX/ -- Crown Holdings, Inc. (NYSE: CCK) (www.crowncork.com), a leading supplier of metal packaging products worldwide, today announced that its Brazilian subsidiary CROWN Embalagens S.A., plans to build its fourth beverage can plant in Brazil. The new facility, which will produce two-piece aluminum cans in multiple sizes, is expected to be operational in the fourth quarter of 2011. The new plant will initially have one line with an annual capacity of 1 billion cans per year and will be designed to support additional production lines as future market needs require.
The new plant will be located in northern Brazil to meet the growing demand in the region for beer and soft drink cans. Crown has been operating in Brazil since 1942 and has a strong presence with two-piece aluminum beverage can plants in Cabreuva (Sao Paulo State), Estancia (Sergipe State) and Ponta Grossa (Parana State) and a beverage end plant in Manaus (Amazonas State). The new plant will expand Crown's annual production capacity to 7.5 billion cans in Brazil.
"Brazil is an important growth market for us and our partner, Petropar SA. This expansion will help meet the country's increased demand for beverage cans and demonstrates Crown's continuing commitment to grow with our customers," commented Raymond L. McGowan, Jr., President of Crown's Americas Division who also noted that Brazil experienced double-digit growth for beverage cans in 2010. "The aluminum beverage can is perfect for the Brazilian market; it is recyclable and sustainable, is shipped easily and most efficiently preserves the quality of the beverage product for the ultimate consumer. As we look ahead to the 2014 FIFA World Cup and the 2016 Summer Olympic Games, both of which will be held in Brazil, Crown is well positioned to grow to meet demand."
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 whether demand will continue to grow for two-piece aluminum beverage cans inBrazil and globally, and whether the Company can successfully implement its plans toconstruct a new plant and meet related time and production targets (including obtaining any required consents and approvals which could delay or prevent expansion), that may cause actual results to be materially different from those expressed or implied in the forward-looking statements. Important factors that could cause the statements made in this press release or the actual results of operations or financial condition of the Company to differ are discussed under the caption "Forward-Looking Statements" in the Company's Form 10-K Annual Report for the year ended December 31, 2009 and in subsequent filings made prior to or after the date hereof. The Company does not intend to review or revise any particular forward-looking statement in light of future events.
About Crown Holdings, Inc.
Crown Holdings, Inc., through its subsidiaries, is a leading supplier of packaging products to consumer marketing companies around the world. World headquarters are located in Philadelphia, PA. For more information, visit https://www.crowncork.com/.
For more information, contact:
Thomas A. Kelly, Senior Vice President - Finance, (215) 698-5341, or
Edward Bisno, Bisno Communications, (212) 717-7578
SOURCE Crown Holdings, Inc.