PHILADELPHIA, Feb. 23, 2012 /PRNewswire/ -- Crown Holdings, Inc. (NYSE: CCK) (Crown) ( www.crowncork.com), a leading supplier of metal packaging products worldwide, announced today that it will build a new beverage can plant in Danang, a major port city in central Vietnam. The new plant is expected to be operational in the second quarter of 2013 and will have an initial annual production capacity of 750 million two-piece 33cl cans.
" Vietnam's growing middle class is driving increased demand for beverage cans," said Jozef Salaerts, President of CROWN Asia-Pacific. "Our new facility in Danang, supported by a long term contract with a major brewer, further extends our strong geographical footprint and ensures we can continue to support our customers with the innovative packaging that consumers prefer."
The beverage can's popularity stems from the convenience it delivers to consumers as well as its strong sustainability profile. In addition to being the most recyclable packaging material available, metal can be recycled infinitely without loss or alteration in quality. In addition, the beverage can is the most recycled form of beverage packaging in the world.
The Danang facility will be Crown's fourth beverage can plant in Vietnam. Crown currently operates one plant in Hanoi and two in Ho Chi Minh City.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 build and commence production at the new Danang plant, whether the Company can meet related time and production targets (including obtaining any required consents and approvals which could delay or prevent expansion) and the level of future beverage can volumes associated with customer contracts supplied from the Danang facility 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, 2010 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 www.crowncork.com. For more information, contact:
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts