Crown to Expand Presence in China to Support Strong Market Growth
PHILADELPHIA, Aug. 25, 2011 /PRNewswire via COMTEX/ -- Crown Holdings, Inc. (NYSE: CCK) (Crown) (www.crowncork.com), a leading supplier of metal packaging products worldwide, today announced plans to continue to expand its footprint in China by building two new beverage can plants and adding a second line to a previously announced facility currently being constructed.
The new facilities will be located in Zhengzhou (Central China) and Changchun (Northeastern China). Each plant will have an initial annual production capacity of 720 million two-piece aluminum beverage cans. The Zhengzhou plant, which will serve Henan province and surrounding provinces such as Shandong, will produce 33cl cans. It is expected to be operational by the first quarter of 2013. The Changchun plant will produce 33cl and 50cl cans and is expected to be operational in the third quarter of 2013.
Crown is also adding a second line to its previously announced facility in Putian (Fujian Province). The new line, expected to be operational by the first quarter of 2013, will produce 33cl and slim 25cl aluminum beverage cans. This expansion will bring annual production capacity at the Putian facility up to 1.4 billion beverage cans when fully commercialized.
"The consumer market in China is growing at a rapid pace," commented Jozef Salaerts, President of CROWN Asia-Pacific. "Adding facilities in Zhengzhou and Changchun demonstrates Crown's commitment to support our customers' growth in this critical market. The plants are also a testament to the increasing popularity of beverage cans in the region and the value they bring to consumers from both the convenience and sustainability perspectives."
Once construction is complete, Crown will have ten beverage can plants strategically located across China. The company currently has operations in Beijing, Foshan, Huizhou, Hangzhou and Shanghai, and construction on plants in Putian, Heshan and Ziyang is underway.
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 China, whether the Company can successfully implement its plans to build and commence production at the new Zhengzhou and Changchun plants, whether the Company can successfully expand production at its Putian plant and whether the Company can 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, 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.
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SOURCE Crown Holdings, Inc.