The news that can making company Impress is to be acquired by Irish packaging group Ardagh Glass could be good news for the industry.
London-based private equity company Doughty Hanson has agreed to sell the shares of Impress Coöperatieve U.A. for €1.7 billion ($2.2bn) to the glass bottle manufacturer.
The enlarged business will trade as Ardagh Packaging Group and will have annual revenues of more than €3 billion ($4bn).
Ardagh chairman Paul Coulson said the deal would make the firm a “major force in world packaging”. It will be interesting to see how the big players like Ball and Crown react to this. But one thing is for sure – a little competition never hurt anyone.
I have recently returned from Rome where I attended the 27th International Aerosol Congress and 16th Aerosol Exhibition. It was interesting to see what a thriving industry the aerosol sector is. The theme of the 2010 exhibition and congress was innovation as a response to the crisis. Of most interest to the metal packaging industry is the advancement of plastic aerosols. Many people in the sector don’t believe that plastic poses an immediate threat to steel or aluminium but it will be interesting to see what happens longer term.
It has been a busy time in the CanTech International office as we put the final touches to the Asia CanTech 2010 schedule. The president of ORG Can Making, Wei Qiong, has agreed to be a Keynote Speaker at the event, which promises to be an exciting one.
I look forward to seeing you all there. Please be sure to come and say hello.