Crown Holdings, Inc. To Build New Beverage Can Plant In Valencia Region Of Spain
PHILADELPHIA, Sept. 8, 2017 /PRNewswire/ -- Crown Holdings, Inc. (NYSE:CCK), a leading supplier of packaging products worldwide, announced today that it will build a new plant in the Valencia region of Spain to produce aluminum beverage cans. The location of the facility, Parc Sagunt, is approximately 10 miles north of the city of Valencia, and was selected based on its close proximity to key customers as well as the excellent local infrastructure and transportation links.
The Company currently operates two steel beverage can plants in Spain, in Agoncillo and Seville, and will be constructing the new facility to meet the growing demand and preference for aluminum beverage cans in the Iberian region. The plant, which is expected to be operational during the fourth quarter of 2018, will have an initial annual capacity of approximately 900 million units in multiple sizes and will be designed to accommodate further expansion. Initially, the capacity will be utilized to facilitate customers' transitions from steel to aluminum beverage cans and subsequently to support the growing demand for both beer and non-alcoholic beverage cans in the region.
Ziya Ozay, Senior Vice President CROWN Bevcan Europe and Middle East, commented, "We are excited about the aluminum beverage can market growth in the Iberian region, and our new plant will be ideally located to supply the increasing requirements of a number of key customers and support our other facilities during the conversion from steel to aluminum."
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.
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 and customer preference will continue to grow for two-piece aluminum beverage cans in Iberia for both beer and non-alcoholic beverages, whether the Company can successfully implement its plans to construct a new plant and 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, 2016 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.
For more information, contact:
Thomas T. Fischer, Vice President Investor Relations and Corporate Affairs; Tel: (215) 552-3720; Email: [email protected]
SOURCE Crown Holdings, Inc.
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