Crown to Invest in New Beverage Can Plant in Brazil to Meet Growing Demand
PHILADELPHIA, Sept. 16 /PRNewswire-FirstCall/ — Crown Holdings, Inc. (NYSE: CCK) (Crown) (www.crowncork.com), today announced that its Brazilian subsidiary, CROWN Embalagens S.A., plans to build a new $60 million beverage can plant in Brazil. The new facility is expected to be operational in the second quarter of 2011 and will have an initial annual capacity of 700 million cans.
The new plant will be located in Southern Brazil to meet the growing demand of that region. CROWN Embalagens has a strong presence in the country with beverage can plants in Cabreuva and Estancia, and a beverage end plant in Manaus. The Company’s annual production capacity in 2011 will be approximately 4 billion cans.
“Demand for aluminum beverage cans in Brazil is strong and the positive trends are expected to continue,” said Raymond L. McGowan, President of Crown’s Americas Division. “Brazil is an important market for us and our joint venture partner in that country, Petropar SA. This expansion demonstrates our commitment to support the growing needs of our global and local customers and to help them continue to build their brands in the region.”
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 www.crowncork.com.
For more information, contact: For investors: Timothy J. Donahue, Executive Vice President and Chief Financial Officer, (215) 698-5088.
SOURCE Crown Holdings, Inc.