1st Jun 2007 07:01
Rexam PLC01 June 2007 Rexam invests in Central American beverage can joint venture Rexam, the global consumer packaging company and the world's leading beveragecan maker, has formed a joint venture with Envases Universales, the leader inthe Mexican packaging market, with regard to a new beverage can plant inGuatemala. Rexam has taken a 50% stake in the joint venture representing a cashinvestment of $24m (£12m). As this is a fifty-fifty joint venture, it will beaccounted for as an associate. The greenfield plant, located in Amatitlan, Guatemala, was completed in December2006 and has a current capacity of approximately one billion cans. The Central American beverage can market as a whole is growing at a rate ofabout 6% per annum which is expected to continue in the near term. Rexam alreadyhas a beverage can making plant in Queretaro, Mexico, and the joint venturestrengthens its presence in the region. Commenting on the joint venture, Leslie Van de Walle, Rexam's CEO, said: "Emerging markets are a key component of Rexam's strategy. This joint venture isa very attractive growth opportunity for beverage cans. It gives us a firmerfoothold in this growing region and enables us to fulfill our commitments toglobal and national customers on a local basis." 1 June 2007 EnquiriesLeslie Van de Walle, Chief Executive Officer +44 20 7227 4100David Robbie, Finance Director Financial DynamicsRichard Mountain +44 20 7269 7121 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 many 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. We have some 24,200people in more than 20 countries. Three things characterise us - leadership inour industry, our commitment to innovation and our passion to deliverexceptional value. Rexam has an ongoing turnover of approximately £3.7 billionand is a member of the FTSE 100. Rexam's ordinary shares are listed with the UKListing Authority and trade on the London Stock Exchange under the symbol REX.In March 2007, Rexam announced that it is to sell its Glass business for €660m(£449m). The deal is subject to regulatory authority clearance and is awaitingcompletion. 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