omniture

Crown to Build Three New Plants in China

2010-09-24 14:52 1823

PHILADELPHIA, Sept. 24 /PRNewswire-Asia/ -- Crown Holdings, Inc. (NYSE: CCK) (Crown), a leading supplier of packaging products worldwide, announced today that it will build three new beverage can plants in China - one in Putian (Fujian Province), one in Foshan (Guangdong Province) and one in Ziyang (Sichuan Province).

The new plants will have initial combined annual production capacity of 2.1 billion aluminum beverage cans. Each of the plants will be designed to accommodate the installation of additional production lines as market demand grows and to produce 25cl, 33cl and 50cl cans. Commencement of commercial production is expected during the fourth quarter of 2011 in Putian, during the first quarter of 2012 in Ziyang and during the third quarter of 2012 in Foshan.

"The demand for beverage cans continues to grow in China and we are pleased to expand our capacity with new state-of-the-art equipment to meet our customers' requirements," said Jozef Salaerts, President of Crown's Asia-Pacific Division. "The aluminum beverage can is recyclable, shipped easily and, most importantly, preserves the quality of the beverage product for the consumer. These investments are supporting the growth plans of major local and international corporations, and we are excited about our strategy and future in China."

Putian is situated in the central part of the coastal area of the Fujian Province. It borders Fuzhou City to the north, Quanzhou City to the south and the Taiwan Strait to the east. Ziyang is a prefectural city in the center of Sichuan Province, 50 miles from the provincial capital of Chengdu and 125 miles northwest of the vast municipality of Chongqing. Foshan is a city located in central Guangdong Province in southern China. Following Shenzhen and Guangzhou, this prefectural city is the third largest manufacturing base in the Pearl River Delta, with a population of approximately 5.5 million.

"Our Asian can businesses in China and Southeast Asia are currently, taken together, the largest metal packaging enterprise in Asia (excluding Japan)," said John Conway, Chairman and Chief Executive Officer. "The expansion we are announcing today will significantly enhance our position in China with highly efficient modern factories, a broad product range in beverage cans and comprehensive geographic coverage to support this dynamic and growing market."

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 beverage cans in China, whether the Company can successfully implement its expansion plans, including  obtaining required governmental approvals and other consents that could delay or prevent the expansion, whether the Company can achieve expected annual production capacities and geographic coverage and whether the Company can commence commercial production as expected, 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

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, Pennsylvania. Please visit http://www.crowncork.com .

For more information, contact:

Thomas A. Kelly
Senior Vice President - Finance
Tel: +1-215-698-5341

Ed Bisno
Bisno Communications
Tel: +1-212-717-7578

Source: Crown Holdings, Inc.
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