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Crown Holdings

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NEWS
October 14, 2010
Crown Holdings Inc. says it expects to produce an additional one billion more aluminum cans a year - about a 66 percent increase - after an expansion project in Turkey that will see increased capacity at one plant and construction of a new facility. The Philadelphia-based company said in a release today that the increased capacity at the plant in Izmit, near Istanbul, will be ready in early 2011. A new plant, in south-central Turkey, is expected to be running by early 2012. Located near the Mediterranean, the new site is also expected to provide products for Middle Eastern and North African markets.
NEWS
August 11, 2010
Crown Holdings Inc. said it is installing a second beverage can line at a new manufacturing plant in Kechnec, Slovakia. The Philadelphia-based maker of metal food and beverage containers said its new production line would be operating in early 2011 and would more than double the plant's annual production of more than 1.6 billion cans. "The plant is well-located to supply customers in Slovakia and neighboring Austria, Czech Republic, Hungary, Poland, Romania and Ukraine," said Chris Homfray, president of Crown Europe.
NEWS
April 20, 2011
Shares in Crown Holdings Inc., were down today after the company said late Tuesday that its first-quarter net income fell as it booked a loss from early debt retirement. Philadelphia-based Crown, a global supplier of packaging products, said that 2011 was off to a good start, with global beverage can volumes up from a year ago thanks to increasing contributions from Brazil, Eastern Europe and Asia. Quarterly revenue rose 6 percent to $1.88 billion from $1.78 billion a year ago. That was slightly short of analysts' forecasts for revenue of $1.89 billion.
NEWS
August 25, 2011 | By Harold Brubaker, INQUIRER STAFF WRITER
Crown Holdings Inc. is based in Northeast Philadelphia, but most of the action these days for the $8 billion metal food and beverage container manufacturer is in China, Brazil and other developing markets, where consumer spending is growing at a faster clip than at home. Crown announced plans Thursday for two new beverage can factories in China, both scheduled to open in 2013, plus the addition of a second production line at a factory under construction. "The consumer market in China is growing at a rapid pace," Jozef Salaerts, president of Crown Asia-Pacific, said.
BUSINESS
August 26, 2011 | By Harold Brubaker, Inquirer Staff Writer
Crown Holdings Inc. is based in Northeast Philadelphia, but most of the action these days for the $8 billion maker of metal food and beverage containers is in China, Brazil, and other developing markets where consumer spending is growing at a faster clip than at home. Crown announced plans Thursday for two new beverage can factories in China, both scheduled to open in 2013, plus the addition of a second production line at a factory under construction. "The consumer market in China is growing at a rapid pace," Jozef Salaerts, president of Crown Asia-Pacific, said.
BUSINESS
November 19, 2005 | By Harold Brubaker INQUIRER STAFF WRITER
Crown Holdings Inc. said yesterday that it had completed a $2.4 billion refinancing that will significantly reduce its interest expense. The Philadelphia packaging manufacturer said it expects to pay $250 million in interest on its debt next year. During the first nine months of this year, the company made $283 million in interest payments - or an annual level of $377 million. This is the second major refinancing by Crown since 2003, propelling the company further into a turnaround from near-bankruptcy in 2001.
BUSINESS
August 25, 2005 | By Harold Brubaker INQUIRER STAFF WRITER
After flirting with bankruptcy just a few years ago, Crown Holdings Inc., the Philadelphia maker of cans for Coke, Pepsi, Green Giant, and many other products, is steadily regaining Wall Street's confidence. "They've made it," said Tim Burns, a veteran industry analyst and president of Cranial Capital, a Cleveland research firm. "It's been a miraculous turnaround, and the stock price reflects it. " Crown's shares traded for as little as 83 cents in December 2001, when it was unclear whether the company would escape the wave of asbestos-related bankruptcies that had engulfed several other major companies, including Armstrong Holdings Inc., of Lancaster.
NEWS
September 15, 2010
Crown Holdings Inc., an international packaging products supplier based in Philadelphia, has completed its $150 million acquisition of interests in the holding companies for Crown's Chinese and Vietnamese joint ventures from affiliates of Swire Pacific Limited. The holding companies, with consolidated 2009 net sales of $250 million, are now wholly owned subsidiaries of Crown. Crown, which previously announced plans to expand production capacity in China and Vietnam, has said the acquisition supports its Asian growth initiative.
BUSINESS
December 31, 2007 | Inquirer staff
Escalon Medical Corp., Wayne, promoted Richard J. DePiano Jr. to president from chief operating officer and general counsel. Mark Wallace was promoted to chief operating officer from executive vice president responsible for the Escalon Digital Solutions and Trek Medical subsidiaries. Raymond L. McGowan Jr. was named president of the Americas Division of Crown Holdings Inc., Philadelphia. He was president of North American Packaging. McGowan replaces Frank J. Mechura, who intends to retire from Crown as of Jan. 31. Michael Staff was named marketing manager at the Jewish Community Foundation of Southern New Jersey.
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BUSINESS
April 26, 2014 | By Jane M. Von Bergen, Inquirer Staff Writer
Philadelphia's trademark inflatable union rat, which showed up Thursday outside the Northeast Philadelphia corporate headquarters of Crown Holdings Inc., might be local, but the union protest at the $8.6 billion company's annual meeting was strictly global. Organizing the protest were members of a Canadian local of the United Steelworkers union, based in Pittsburgh. The local has been on strike since September at Crown's plant near Toronto. In Turkey, meanwhile, a similar rally, no doubt minus the rat, was canceled, the union said, after an Istanbul paper printed what it said was Crown's threat to shut the factory if a rally occurred.
BUSINESS
February 17, 2014 | By David Sell, Inquirer Staff Writer
Americans are drinking less soda, and that is bad news for soda-makers such as Coca-Cola and PepsiCo. But it is also unpleasant news for people who make the cans. The Philadelphia-based Crown Holdings Inc., which was founded in 1892 by the inventor of the crown-shaped bottle cap, makes soda cans in four diameters, 21 sizes in all. So when there is a hiccup in beverage consumption, the gas can be felt by folks at Crown - No. 17 on the Philly50. "The North American beverage business has been declining over the last several years," Timothy J. Donahue, Crown Holdings' president and chief operating officer, said Feb. 4, according to a SeekingAlpha transcript of the conference call with financial analysts that coincided with the release of full-year financial results for 2013 and the fourth quarter.
BUSINESS
November 2, 2013 | By Reid Kanaley, Inquirer Staff Writer
Crown Holdings, the Philadelphia maker of cans and other metal packaging, said Thursday that it agreed to acquire Mivisa Envases SAU, a Spanish food-can manufacturer, for 1.2 billion euros, or $1.64 billion. The deal builds on Crown's existing European market, chief executive officer John W. Conway said in a company statement. Crown is the world's top producer of food and aerosol cans and has come to specialize in shaped cans, such as the keg-shaped Heineken beer cans sold in some markets.
NEWS
April 21, 2013
Sly Fox helped pioneer the craft-beer can revolution. Now, it's ripping the top off the genre altogether - literally. Gently yank the tab on its new "360 Lid" and nearly the entire end of the can is lifted off for wide-open sipping. Smell the hops! Take a big, refreshing gulp. No more small-hole, aroma-deprived glugging. Developed by Northeast Philly's Crown Holdings (and first seen at the World Cup), the 360 made its North American debut this spring with Pikeland Pils cans exclusively available at Citizens Bank Park.
BUSINESS
February 18, 2013
Securities trades recently reported to the Securities and Exchange Commission by officers, directors, and principal shareholders of corporations based or having sizable employment in the Philadelphia area. Titles are as reported to the SEC. Ametek Inc. John Wesley Hardin , officer, sold 11,923 shares at $41.45 on Feb. 8, and now directly holds 52,267 shares. Robert R. Mandos Jr. , chief financial officer, sold 7,246 shares at $41.50 on Feb. 11, and now directly holds 109,561 shares.
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