Crown Holdings, Inc. (NYSE: CCK), 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.
SOURCE: PRNewswire\ Crown Holdings, Inc.
Last modified onSaturday, 06 May 2017 10:07
Latest from Admin TOA
- TASC Calls Turkish-Americans to Invite Congressional Freshmen to Join Turkey Caucus
- Turkish-American Owned Benseron Selected One of 50 Florida Companies to Watch
- Visit Istanbul Will be Istanbul's Open Door to Tourism
- SOM Unveils Design for Burj Jumeira Tower in Dubai
- Aspire: Five-Week Music Performance Intensive at Berklee College of Music