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.
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.
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.
August 25, 2011 |
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.
August 26, 2011 |
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.
November 19, 2005 |
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.
August 25, 2005 |
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.
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.
December 31, 2007 |
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.