Business news

 

Hindustan Tin Works announces un-audited Q3 results

Hindustan Tin Works Ltd has reported its quarterly profit and revenue numbers, with a 67.2% jump in net profit before tax for the quarter ended 31st December 2013. The company saw net sales of 79.69 cr. for the 3rd Quarter, compared to 61.40 cr. for the corresponding period last year – thereby showing an increase […]

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Showa Denko Group to acquire Vietnam-based Hanacans

Japan based Showa Denko and its wholly owned subsidiary Showa Aluminum Can Corporation (SAC) have reached an agreement with major shareholders of Rexam-Hanacans Joint Stock Company (Hanacans), of Vietnam, to acquire 91.75% of shares in the company. SAC became the first company in Japan to manufacture and sell aluminum beer cans in 1971 and since then […]

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Nampak acquires beverage can operation in Nigeria

Nampak has announced that it is to acquire Alucan Packaging, a beverage can manufacturer based in Nigeria. Nampak has also been granted an option to acquire a leading rigid plastics company in Nigeria. The total investment is $301m ($186m), which will be funded through available cash resources and existing debt facilities. The Alucan factory is […]

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End measurement station strives for accuracy

CMC-Kuhnke has recently introduced its EMS-3200 end measurement station, which reportedly provides automatic measurements for every characteristic of the can-end, substantially increasing time savings over manual gauges. Featuring automatic end rotation, the new end measurement station seeks to complete eliminate operator error and maximises accuracy. Via the touch of just one button, the EMS-3200 can […]

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Rexam joins Dow Jones Sustainability Index

Rexam has been selected to join the Dow Jones Sustainability Europe Index (DJSI). Members of the DJSI represent leading sustainability companies around the world and Rexam is one of an exclusive group of five companies within the containers and packaging sector chosen for the 2013 Index. This follows Rexam’s recent ‘gold’ rating by Ecovadis, a system […]

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Heinz could cut 10% of UK workforce

Canned soup and beans giant Heinz has announced plans to cut up to 10% of its UK workforce. The Berkshire Hathaway and 3G Capital owned food business has said it wants to streamline its operations. Currently the business employs 2,500 people across the UK and in Ireland, around 250 of these roles could be redundant. […]

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Tata Steel profits hit four-year high

Tata Steel has turned around a recent slump in profits to announce a four-year best performance. The steel giant was backed up by a solid performance by its European and Indian operations. Group net income climbed to 11.39 billion rupees (US$186 million) in quarter one three months ending June 30 from 5.98 billion rupees a […]

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Envirogen Water Technologies Group buys Derwent Water

Water treatment and filtration specialist Envirogen Water Technologies has acquired the assets of Derwent Water Services and Derwent Water Systems. This latest acquisition enhances Envirogen’s presence in the UK industrial water treatment and filtration market. Derwent Water has established itself as a leading manufacturer and supplier of quality water treatment plant, ranging from basic water […]

AG Barr ends Britvic interest … for now

The seemingly done deal to create Europe’s biggest soft drinks business has fallen through. Despite being agreed last year and clearing UK competition restrictions the deal is off after Britvic bosses rejected the terms of the take over. The £1.4 billion ($2.2.bn) merger of Britvic and Scottish rival AG Barr has been confirmed in late […]

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Crown boosted by Q2 results

Crown Holdings’ second quarter results showed gross profit improved to US$375 million compared to $340 million in same the period in 2012. The company explained this was primarily due to increased beverage can sales volumes and lower depreciation expense. Overall Crown reported global beverage can volumes were up 3% in the second quarter and up […]

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New MD for Linx Printing Technology

Linx Printing Technologies has announced the appointment of Nigel Hood as managing director. Hood joins the Cambridgeshire based company from Hach, where he was business unit director for the Particle Counting business. Like Linx, Hach is part of the Danaher group, which Hood joined in 2002 following its acquisition of Orbisphere, where he was vice […]

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“Challenging” first half for Rexam

Can maker Rexam revealed global sales grew by 1% for the five months to the end of May compared with the same period in 2012. However, overall operating performance in the first half of the year will be slightly below that of last year. In 2012 sales from continuing operations for the company were in […]

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Domino results reveal revenue rise

Strong growth in the US and Asian market has offset poorer performing parts of Europe for Domino Printing Sciences. In the company’s 2013 interim results statement, released today (25 June), it was also revealed the business was increasing its research and development (R&D) budget by 25%. Revenue for the firm, which makes printers to stamp […]

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Soft drinks merger cleared

The Competition Commission has provisionally cleared the acquisition of Britvic by AG Barr. Both companies produce canned soft drinks, including AG Barr’s Irn Bru (pictured) and Britvic’s orange juice pure, both in 330ml cans. In a summary of its provisional findings on the merger published this week the commission concluded the proposed acquisition is not […]

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