Business news
Heilbronn Group to expand
Germany’s Heilbronn Group has acquired Heilbronn Pressen, a manufacturer of mechanical presses and complete stamping lines for the sheet metal forming industry worldwide. The new company will be integrated into the already existing holding structure and continue to act as a supplier for the general stamping market.
Rexam achieves record results for 2010
Strong beverage can sales helped Rexam achieve an underlying profit of 45% in 2010. Profit before tax increased to £412m from £285m in 2009 on sales up 2% to £4.96bn. Total sales in 2009 stood at £4.86bn. Profit from continuing operations including one-offs rose to £338m from £134m.
Business news, Can & end making, Metal decorating, Sustainability
Premier Foods to sell canned food business to Princes
Food and drink group Princes has agreed to buy the canning operations of UK company Premier Foods in a deal worth £182 million (US$292.8m). Under the terms of the agreement, which is subject to Premier Foods’ shareholder and regulatory approval, Premier Foods’ sites at Long Sutton and Wisbech would transfer to Princes’ ownership.
Ball completes acquisition of Aerocan
Ball Corporation has today (18 January) completed the purchase of Aerocan, a leading manufacturer of aluminium aerosol cans, bottles and slugs in Europe. Ball announced the acquisition in December 2010.
Blackstone, Dinamia to buy Spanish can maker Mivisa
US based Blackstone Group is leading a consortium of private equity funds which have agreed to buy Spanish can making company Mivisa. No financial details of the acquisition have been disclosed but Dinamia said that as part of the agreement it will pay up to €9.5 million ($12.58m) for a maximum five per cent stake in Mivisa’s parent Sofamen XXI, Reuters reported.
BWAY announces acquisition of Phoenix Container
BWAY Holding Company, a leading producer of metal containers in North America, has expanded its operations with the acquisition of Phoenix Container. Phoenix Container is a US producer of steel pails based in North Brunswick, New Jersey, where it operates one plant producing a wide range of steel pails used for packaging industrial and consumer products.
Berlin Packaging buys Continental Packaging Solutions
Berlin Packaging, a leading supplier of plastic, glass, and metal containers and closures, has announced the acquisition of Chicago-based Continental Packaging Solutions. The company says the transaction is designed to expand the resources available to customers for fast and expert service and cost-effective rigid packaging.
Silgan expands food can business with purchase of Vogel & Noot
Silgan Holdings, a leading supplier of food cans, has announced that it is buying Vogel & Noot Holding AG’s food can business for €250 million ($335m), subject to adjustment of the net debt and financial performance of the business.
More than 300 jobs to go in Novelis closure
More than 300 jobs will be lost after Novelis confirmed its Bridgnorth foil rolling facility would close by the end of April. The aluminium firm first revealed it was considering closing the operation in September when it launched a 90-day consultation with the 319 employees at the UK site.
Acquisitions everywhere
Ardagh Glass Group recently completed the acquisition of global metal packaging group Impress Coöperatieve U.A. for €1.7 billion ($2.2bn). The enlarged organisation will be known as Ardagh Group after both the European and US regulatory authorities approved the deal. The group will employ approximately 14,000 people and have annual revenues of over €3 billion ($4bn). […]
Ball to buy Aerocan
Ball Corporation has agreed to acquire Aerocan – a manufacturer of aluminium aerosol cans, bottles and slugs – in a €221 million ($292m) deal which includes debt and other liabilities. The US can making company has signed a definitive agreement with Barclays Private Equity to acquire Aerocan, with the acquisition expected to close during the first quarter of 2011.
Ardagh Glass completes acquisition of Impress
Ardagh Glass Group has today (7 December) completed the acquisition of global metal packaging group Impress Coöperatieve U.A. for €1.7 billion ($2.2bn). Both the European and US regulatory authorities have approved the deal to create an enlarged organisation which will be known as Ardagh Group.