PHILADELPHIA, Aug. 7 /PRNewswire/ -- Crown Cork & Seal Company, Inc.
(NYSE: CCK; Paris Bourse) In response to increasing market demand in Spain and
Portugal, Crown Cork & Seal today announced it will install a two piece
beverage can line in Seville, Spain.
The beverage can market in the Iberian Peninsula has been one of the
fastest growing regions in Europe, enjoying double digit volume growth for
many years. Unit sales reached 5.2 billion last year, making it the third
largest market in Europe, after the UK and Germany. This rate of growth is
expected to continue both in soft drinks and beer.
The new plant will initially operate with one line and will be sized for
future expansion. This state-of-the-art line will produce 33cl steel beverage
cans, and will have an annual capacity of 750 million cans. Construction at
the 36,000 square meter leased facility has begun and Crown expects to be
operational by mid 2002. This investment is consistent with the Company's
previously stated capital expenditure target.
George Nicol, Senior Vice President of Crown Bevcan Europe commented, "The
new plant in Spain will allow us to effectively meet our customers' needs.
Steel beverage cans have continued to grow successfully in Spain and Portugal
and this investment will enable us to develop in line with the market, and to
prepare for further capacity expansion in the future."
Crown Cork & Seal is the leading supplier of packaging products to
consumer marketing companies around the world. World headquarters are located
in Philadelphia, Pennsylvania.
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SOURCE Crown Cork & Seal Company, Inc.
Web site: http: //www.crowncork.com
CONTACT: Timothy J. Donahue, Senior Vice President of Finance, of Crown Cork & Seal, +1-215-698-5088