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Manufacturing News Center - Rexam acquires Mexican beverage can business press release

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September 27, 2004 -- Jobwerx News -- Rexam, the global consumer packaging group and the world's leading beverage can supplier, announces that it has reached agreement to acquire the 50% shareholding it does not own in the Mexican beverage can business, Vitro-American National Can SA de CV (VanCan), from its joint venture partner, Vitro SA de CV. The consideration, on a debt and cash free basis, is US$26.5m, subject to adjustment.

In 2003, VanCan had sales of US$70m, of which US$35m was reported in the Rexam 2003 results under turnover of associates.

VanCan has one plant located in Querétaro near Mexico City. It started as a green field site in 1995 and is now a major supplier to the Mexican beverage market. The plant has two production lines and employs approximately 140 people. VanCan will continue to be part of the Rexam Beverage Can Americas operation which has 25 plants in North and South America. Commenting on the acquisition, Stefan Angwald, Rexam's Chief Executive, said: "This deal represents another step in our commitment to extend our position in growing markets and to deliver increased value for customers."

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