press release
May 15, 2012,
PHILADELPHIA, May 15, 2012 /PRNewswire via COMTEX/ --
Crown Holdings, Inc.
CCK
-0.30%
(
www.crowncork.com ), a leading supplier of metal packaging products
worldwide, announced today that it will build a new beverage can plant
in Sihanoukville, Cambodia to meet growing demand. Sihanoukville is on
the Gulf of Thailand approximately 200 km from the Cambodian capital,
Phnom Penh. It is the country's primary commercial port and is also
enjoying growing tourism.
The new plant will be sized to accommodate multiple can lines and have
an initial annual production capacity of 725 million two-piece 33cl
aluminum cans. The facility is expected to be operational in the third
quarter of 2013 and will be Crown's second beverage can plant in
Cambodia including its two line operation in Phnom Penh.
"Cambodia is growing at a steady pace and this in turn is driving
increased demand for our customers' products, and we are experiencing a
preference on their part for two-piece aluminum beverage cans,"
commented Jozef Salaerts, President of CROWN Asia-Pacific. "This newest
investment is supported by a long term contract with a major brewer and
is consistent with the Company's growth plans. Crown has been
manufacturing beverage cans in Southeast Asia for more than 40 years and
this expansion project underscores our commitment to support the
growing needs of our global and regional customers and to help them
continue to build their brands in the region."
Crown currently operates seven beverage can plants in Southeast Asia.
The company has one plant each in Cambodia, Malaysia, Singapore and
Thailand as well three plants in Vietnam (one in Hanoi and two in Ho Chi
Minh City). Earlier this year the Company announced plans to build a
new beverage can plant in Danang, Vietnam which is expected to begin
commercial production in second quarter of 2013.
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 in Cambodia, whether the Company can successfully implement its
plans to build and commence production at the new Sihanoukville plant,
whether the Company can meet related time and production targets at the
new Sihanoukville and Danang facilities (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 Sihanoukville 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, 2011 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:
For editorial inquiries: Michael F. Dunleavy, Vice President of
Corporate Affairs and Public Relations;Tel: (215) 698-5051; Email:
mdunleavy@crowncork.com
For investors: Thomas A. Kelly, Senior Vice President Finance, Tel:
(215) 698-5341, orEd Bisno, Bisno Communications, Tel: (212) 717-7578.
SOURCE Crown Holdings, Inc.
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