Rexam packaging group receives
clearance to acquire Rostar
Global consumer packaging company Rexam receives clearance to complete
the acquisition of Rostar the Russian beverage can maker.
Rexam PLC, the world's leading beverage can maker and a global consumer
packaging company, announces today that following continuing discussions
with the Federal Antimonopoly Service of the Russian Federation (FAS),
it has received clearance to complete the acquisition of Rostar, the Russian
beverage can maker, which it first announced in July 2007.
In addition to a number of standard conditions, Rexam has agreed with
the FAS that for a period of 10 years it will not increase beverage can
prices in Russia by more than 15% per annum (other than in exceptional
circumstances) and that it will continue to invest in its Russian beverage
can business to meet market growth. Principal business operations are
Beverage Packaging and Plastic Packaging.
Profits for Rostar in 2006 were adversely impacted by aluminium price
volatility. Company production and quality management system is ISO
9001:2000 certified that is confirmed by certificate of DNV (Norway).
The original acquisition offer in 2007, which was temporarily derailed
by the FAS, to the En+ Group Limited, the parent of Rusal, the Russian
aluminium group, was for in cash consideration, US$297m (?149m), including
borrowings assumed. No new terms if changed were disclosed.
Rostar, the Russian beverage
can maker. photo: Rostar
Rostar has two beverage can industry manufacturing sites, with one located
in Dmitrov near Moscow and the other in the city of Vsevolozhsk near St
Petersburg. The Moscow plant, which includes an can end making facility,
has an annual capacity of some 1.3bn beverage cans, while the St Petersburg
plant has a capacity of 1.7bn beverage cans.
ROSTAR's can manufacturing plants are equipped with state-of-the-art production
lines. Advanced technology and high-performance equipment provide high
efficiency of ROSTAR production and compliance of their products with
global quality packaging standards.
ROSTAR currently supplies cans for the largest Russian breweries, soft
drinks and alco-mixes producers. Among their customers are Baltika, Vena,
Yarpivo, Zolotoy Ural, Pikra Breweries (all incorporated in BBH), Stepan
Razin and Baikal Breweries (all incorporated in Heineken), Happyland,
Sun Interbrew, Krasny Vostok, PepsiCo and others.
In October 2001, ROSTAR became the eighth Russian enterprise certified
in accordance with the environmental management standard ISO
14001.
RUSAL is the world's third largest primary aluminium producer, providing
primary aluminium and value-added casthouse products to customers in 50
countries. Headquartered in Moscow, with operations in 9 regions of Russia
and 13 countries globally, RUSAL now accounts for 75% of aluminium production
in Russia and 10% internationally. RUSAL has 47,000 employees and was
established in March 2000 through a merger of several largest aluminium
smelters and alumina refineries in the CIS.
En+ is a holding company established as part of Basic Element's restructuring.
It is responsible for the strategic management of Basic Element's assets
in energy, coal, oil and aluminium. Core assets in the En+ portfolio include
RUSAL, Eurosibenergo and United Oil Group.
En+'s strategic goal is to become one of the leading international companies
across industries that supply, consume and produce energy.
Rexam packaging group has been in Russia for over 10 years, and the acquisition,
along with their new greenfield
plant in Argayash and the investment in new lines at their existing
plant, positions them well for growth in the beverage can market.
Completion is expected in the first quarter of 2008.
Information in this press release, in part, provided by Jonathan Thornton,
Group Communications Director, Rexam PLC, +44 20 7227 4100.
See all the Press Releases from Rexam sites - Click
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