UK: Rexam pulls out of glass manufacturing
Rexam is selling its entire glass business.
The consumer packaging and beverage can maker, said today (12 March) that it has agreed to divest its glass business to Ardagh Glass Group for GBP449m (US$870.2m). The transaction is dependent on competition approval in Germany and Poland, Rexam said.
"Rexam Glass is a strong, well-run operation and will fit well with Ardagh, a dedicated player in glass," said Leslie Van de Walle, Rexam's CEO. "Rexam's strategy remains to focus on profitable growth in its core beverage can and plastic packaging businesses."
Last year, Rexam Glass, which employs 3,600 people and focuses on the north European market, reported sales of GBP437m and operating profit of GBP40m. Following the disposal, the central costs will be reapportioned to Rexam's other business segments.
On-shelf impact, convenience, shelf-life, brand loyalty and increasingly environmental credentials all factor into the packaging choice for soft drinks brands. Moreover, writes Annette Farr, when it c...
Beverage can company Rexam has posted a slide in first-half profits....
Rexam Beverage Can North America has laid out plans to increase its production capacity for 24oz cans by the first quarter of 2008....
Rexam has agreed to buy Russian beverage can maker, Rostar....
Rexam has formed a joint venture with Mexican packaging firm Envases Universales....
The end of a month-long strike in the US at beverage can company Rexam has hit the firm's bottom line to the tune of US$29.7m....
Rexam has adapted to the changing demands for speciality cans in the US....
Double D Beverage is upping its offering in its domestic market....
- Coca-Cola pressure builds as bid rumours swirl
- Gin: Plymouth's from Plymouth, London's from...?
- Fireball Recall: Putting Out Fire with Anti-Freeze
- Why Chinese beverages won't conquer the world
- Comment - IPO Launch a Tonic for Fever-Tree
- Anheuser-Busch InBev cuts jobs in US shake-up
- Diageo targets Millenial women with Baileys push
- Pernod blames rule changes for Plymouth GI drop
- William Grant unveils bespoke Glenfiddich website
- Diageo unveils Ciroc in Times Square push
- Early Signals: future scenarios that will drive consumption and product innovation over the next five years
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global Beer Opportunities: Beyond Standard Lager
- The IWSR Global Trends Report 2014
- Global Cognac insights - market forecasts, product innovation and consumer trends research