Crown Holdings, Inc. To Build New Beverage Can Plant In Sihanoukville, Cambodia
PHILADELPHIA, May 15, 2012 /PRNewswire/ -- Crown Holdings, Inc. (NYSE: CCK) (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.
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SOURCE Crown Holdings, Inc.