Crown Cork & Seal Completes Sale of its Fragrance Pump Business

PHILADELPHIA, Jan. 22 /PRNewswire-FirstCall/ -- Crown Cork & Seal Company, Inc. (NYSE: CCK) announced that it has completed the sale of its fragrance pump manufacturing business located in Thomaston, Connecticut to Rexam PLC for approximately $107 million in cash subject to a net asset adjustment. Net proceeds from the transaction were used to reduce outstanding short-term indebtedness.

The Thomaston plant was one of nine facilities operated by Crown's Risdon- AMS cosmetics packaging subsidiary. Risdon, headquartered in Watertown, Connecticut, remains a leading global supplier of health and beauty packaging products to the world's largest cosmetics and consumer products companies with manufacturing facilities in the US, Canada, France and Italy. Risdon's product lines include highly decorated, injection molded and assembled plastic packaging and related metal packaging products for leading global manufacturers of lipstick, lip-gloss, mascara, compacts and fragrance caps.

Crown Cork & Seal is a 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 - Finance of Crown Cork & Seal Company, +1-215-698-5100