Rexam acquires Arab Can Manufacturing
Following an announcement in February last year, Rexam has completed the aquisition of a 51% stake in Arab Can Manufacturing Limited (UAC). The company is to be renamed Rexam UAC.
UAC makes beverage cans and can ends and is situated in Dammam, Saudi Arabia. The plant has an annual capacity of 1.8 billion cans in both standard and specialty sizes.
Current shareholders of UAC include Olayan Financing Company, Aujan Industries Co. LLC, The Coca-Cola Bottling Company of Saudi Arabia and Al-Jabr Trading Company. All will continue to be shareholders in the company.
Graham Chipchase, Rexam’s chief executive, said, “We have spoken for some time about the opportunities in emerging markets and I am delighted that we are seeing our strategy bear fruit with the acquisition of a controlling stake in United Arab Can.
“UAC is a modern business with respected partners, well established customer relationships, a strong competitive position in an attractive market with good returns.
“Growth prospects for the beverage can in the Middle East are attractive and we look forward to working together with our partners in UAC to lead further expansion in the region.”