22nd Jun 2007 07:00
Rexam PLC22 June 2007 Rexam completes divestment of Glass business Rexam, the global consumer packaging group and the world's leading beverage canmaker, is pleased to announce that it has completed the divestment of its Glassbusiness to Ardagh Glass Group which was initially announced on 12 March 2007. The divestment is part of Rexam's strategy to move into higher growth, highermargin businesses and these proceeds will be used to partially fund the recentlyannounced proposed acquisition of OI Plastics, a leading US manufacturer ofrigid plastic healthcare packaging and plastic closure systems. 22 June 2007 Enquiries Rexam +44 20 7227 4100Leslie Van de Walle, Chief Executive OfficerDavid Robbie, Finance DirectorJonathan Thornton, Group Communications DirectorFinancial Dynamics +44 20 7269 7121Richard Mountain Rexam is a leading global consumer packaging company and the largest beveragecan maker in the world. Our vision is to be the leading global consumerpackaging company. We are business partners to some of the world's most famousand successful consumer brands as well as young, entrepreneurial start-ups. Weoffer a broad range of packaging services and solutions for differentindustries, using different materials and technologies. Three thingscharacterise us - leadership in our industry, our commitment to innovation andour passion to deliver exceptional value. Following the divestment of the Glassbusiness, Rexam will have sales of approximately £3.2 billion and employ some21,000 people in more than 20 countries. On 11 June 2007, Rexam announced thatit had agreed to acquire OI Plastics, a leading US manufacturer of rigid plastichealthcare packaging and plastic closure systems, for $1.8bn. This deal issubject to shareholder approval and regulatory authority clearance, and isawaiting completion. Rexam is a member of the FTSE 100. Rexam's ordinary sharesare listed with the UK Listing Authority and trade on the London Stock Exchangeunder the symbol REX. For further information on Rexam, visit www.rexam.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
REX.L