PHILADELPHIA, Feb. 17 /PRNewswire-Asia/ -- Crown Holdings, Inc. (NYSE: CCK), a leading supplier of metal packaging products worldwide, announced today that its subsidiary, CROWN Asia Pacific Holdings Ltd., intends to install a second beverage can line in its existing facility northeast of Ho Chi Minh City in Dong Nai Province, Vietnam.
The new line is expected to be operational in the fourth quarter of 2010 and have an initial annual production capacity of approximately 600 million two-piece 33cl aluminum beverage cans, which would expand the Dong Nai plant's capacity to more than 1.2 billion cans.
As a result of this latest investment, Crown anticipates having 5 beverage can lines in 3 facilities in Vietnam, with total production capacity in excess of 3 billion aluminum two-piece cans.
"This expansion reflects the Vietnamese market's growing demand for beverage cans and Crown's continuing commitment to grow with our bottling customers there," commented Jozef Salaerts, President of Crown's Asia-Pacific Division. "The aluminum beverage can is perfect for the Vietnamese market. It is recyclable and sustainable, is shipped easily, and most efficiently preserves the quality of the beverage product for the ultimate consumer. Equally important, we expect that the additional line will increase both productivity and operating efficiencies at the plant as was anticipated when the facility was purchased last year."
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 2010 in Vietnam and elsewhere in Southeast Asia, whether the Company can successfully implement its installation and operating plans in its Dong Nai plant, and the Company's ability to realize productivity and operating efficiencies, 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, 2008 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:
In Asia:
Jozef Salaerts
President - Asia Pacific-Division
Tel: +65-62294881
Email: jozef.salaerts@crowncork.com.sg
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
Ed Bisno
Bisno Communications
Tel: +1-212-717-7578
