US: Rexam buys Russian can maker

By just-drinks.com editorial team | 5 July 2007

Rexam has agreed to buy Russian beverage can maker, Rostar.

Rexam said yesterday (4 July) that it has acquired the Russian can maker, a subsidiary of Rusal, for US$297m and the sale will maintain its current debt ratings.

According to the company, last year, Rostar had sales of US$214m and last December posted net operating assets of US$181m.

Rexam's CEO Leslie Van de Walle said: "The acquisition of Rostar is fully in line with our emerging markets strategy and represents an excellent opportunity for Rexam. We have been in Russia for over 10 years, and the acquisition, along with our new greenfield plant in Argayash and the investment in new lines at our existing plant, positions us well in this growth market."

Sectors: Beer & cider, Soft drinks

Companies: Rexam