Crown to Expand Presence in Turkey
By Crown Holdings Inc., PRNEWednesday, October 13, 2010
Capacity Addition and New Beverage Can Plant to Support Customer Growth in Turkey
PHILADELPHIA, October 14, 2010 - Crown Holdings, Inc. (NYSE: CCK) (www.crowncork.com), a leading
supplier of metal packaging products worldwide, announced today a major
expansion of its beverage can production capacity in Turkey. The investment
plan includes increasing capacity at the Company's existing two-line facility
in Izmit, near Istanbul, and the construction of a new manufacturing plant in
the Osmaniye region, in south-central Turkey.
The capacity addition at the Izmit plant will be complete in early 2011,
with the new Osmaniye plant due to be operational by early 2012. The new
plant will initially have one line producing aluminum cans and will be
designed to support additional production lines as future market needs
require. Located near the port of Mersin in the Mediterranean Sea, this new
investment will also provide a strong platform for exports to the surrounding
markets in the Middle East and North Africa.
The expansion program will add approximately 1 billion two-piece aluminum
cans per annum in 33cl and 50cl sizes, bringing Crown's total production
capacity in Turkey to approximately 2.5 billion beverage cans.
"With its growing population and its strategic location in the center of
Europe, the Middle East and North Africa, Turkey is one of Europe's most
promising beverage markets. Crown has almost 20 years of experience in
Turkey, and we are extremely pleased to be developing our capacity in this
market in line with the growing demands of our customers in the region," said
Chris Homfray, President Crown Europe.
Crown currently operates 14 beverage can plants in Europe, the Middle
East and North Africa.
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 Turkey and Europe, the Middle East and Africa generally, and
whether the Company can successfully implement its plans to add an additional
beverage can production line and construct a new plant and meet related time
and production targets (including obtaining any required consents and
approvals which could delay or prevent expansion), 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, 2009 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.
For more information, contact: In Europe: Caroline Archer, Marketing Director; Tel; +33-1-49-18-40-43; Email: caroline.archer@eur.crowncork.com In the United States: Tom Hughes, Marketing Manager; Tel: +1-215-698-5289; Email: thomas.hughes@crowncork.com For editorial inquiries: Michael F. Dunleavy, Vice President of Corporate Affairs and Public Relations; Tel: +1-215-698-5051; Email: mdunleavy@crowncork.com For investors: Thomas A. Kelly, Senior Vice President - Finance; Tel: +1-215-698-5341
In Europe, Caroline Archer, Marketing Director, +33-1-49-18-40-43, caroline.archer at eur.crowncork.com; In the United States, Tom Hughes, Marketing Manager, +1-215-698-5289, thomas.hughes at crowncork.com; For editorial inquiries, Michael F. Dunleavy, Vice President of Corporate Affairs and Public Relations, +1-215-698-5051, mdunleavy at crowncork.com; For investors, Thomas A. Kelly, Senior Vice President - Finance, +1-215-698-5341, all of Crown Holdings, Inc.
Tags: Crown Holdings Inc., October 14, Pennsylvania, Philadelphia, Turkey, Western Europe