Crown Expands Beverage Can Production in Vietnam
PHILADELPHIA, Feb. 18, 2011 /PRNewswire/ — Crown Holdings, Inc. (NYSE: CCK) (Crown) (www.crowncork.com), a leading supplier of packaging products worldwide, announced today that it will expand beverage can production capacity in all three of its existing facilities in Vietnam.
The Company will add a second can line to its facility in Hanoi. The new line is expected to be operational in early 2012 and have an initial annual production capacity of 750 million two-piece 33cl aluminum beverage cans. This expansion will bring the Hanoi plant’s total capacity to 1.5 billion cans.
Upgrades are planned to existing facilities in Ho Chi Minh City. Total annual production capacity will increase by 700 million cans bringing the total capacity for Crown in southern Vietnam to 3.2 billion cans.
“Crown is committed to supporting the growth of our customers in the Vietnamese market,” said Jozef Salaerts, President of Crown’s Asia-Pacific Division. “Beverage cans offer unparalleled quality preservation and are a truly sustainable packaging solution. They have endless recycling potential, can be stored at ambient temperatures and help reduce waste by extending shelf life.”
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 beverage cans in Vietnam, whether the Company can successfully implement its plans to add additional capacity 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
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, Pennsylvania. Please visit www.crowncork.com.
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SOURCE Crown Holdings, Inc.