Rexam invests 24 mln usd in drinks can jv with Mexico's Envases Universales |
|
|
|
Published
:
Fri, 01 Jun 2007 08:38
|
LONDON (Thomson Financial) - Consumer packaging company Rexam PLC has invested 24 mln usd in a joint venture with Mexico's Envases Universales for a new beverage can plant in Guatemala, it announced in a statement.Rexam has taken a 50 pct stake in the jv, which it said would be accounted for as an associate.Located in Amatitlan, Guatemala, the greenfield plant was completed in December 2006 and has a current capacity of approximately 1 bln cans, it said.Rexam, which already has a beverage can-making plant in Queretaro, Mexico, said the joint venture strengthens its presence in Central America, where the drinks can market is growing at about 6 pct a year.'Emerging markets are a key components of Rexam's strategy,' said CEO Leslie Van de Walle. '(The joint venture) gives us a firmer foothold in this growing region and enables us to fulfil our commitments to global and national customers on a local basis.'paul.sandle@thomson.comps/slmCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
|
|
|
|
Print this Story
Rexam warns of 15 mln stg impact from North American strike action 