Beverage Can Supplier | Beverage Industry | Consumer Packaging Business

Manufacturing News Center - Move strengthens position in an emerging market that has enormous potential

Great Britan, UK-November 10, 2004-Jobwerx News-PRESS RELEASE-Rexam, the global consumer packaging group and the world's leading beverage can supplier, (London Stock Exchange under the symbol REX), announces that it has reached agreement to acquire the 40% shareholding it does not own in the Chinese beverage can business, Rexam Beverage Can Zhao Qing (Zhao Qing), from its joint venture partner, Hua Xing Investment Limited.

The acquisition is subject to the formal approval of the Chinese authorities. In 2003, Zhao Qing had sales of £11m and, under UK GAAP, net assets of £2.8m. The plant is located near Guangzhou in southern China and supplies the local regional beverage market. It has one production line and employs 150 people.

The business will continue to be part of Rexam's Beverage Can Europe & Asia operations. Commenting on the acquisition Lars Emilson, Rexam's Chief Executive, said: "Following on from our recent acquisition in Mexico, this move strengthens our position in another emerging market that has enormous potential for us. We can now fully integrate the business and continue to serve the growing needs of our customers." 10 November 2004

Rexam is one of the world's top five consumer packaging groups and the world's leading beverage can maker. Its global operations focus on beverage packaging in metal, glass and plastic, as well as plastic packaging solutions for the beauty, pharmaceutical and food industries around the world. The Rexam Group employs more than 22,000 people in 24 countries worldwide and has an ongoing turnover of approximately £3.1 billion. Rexam is a member of the FTSE 100.

Rexam PLC /LSE: REX /ISIN: GB0004250451

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