MEDIA RELEASE PR38772
Crown Holdings, Inc. Expands Presence In China
PHILADELPHIA, Mar. 17 /PRNewswire-AsiaNet/ --
Crown Holdings, Inc. (NYSE: CCK), a leading supplier of metal packaging products
worldwide, today announced that its subsidiary, CROWN Asia Pacific Holdings Ltd.,
plans to build a new beverage can plant in Hangzhou, China.
Hangzhou is a city located in the Yangtze River Delta in the People's
Republic of China. It is located about 120 miles southwest of Shanghai and is
the capital of the Zhejiang province. This ancient city was the capital of
the Southern Song Dynasty and has become a modern and vibrant economical
center with a population of approximately 7 million people. Zhejiang province
has a population of approximately 50 million people.
The new plant in Hangzhou will be sized to accommodate multiple can lines
and will have an initial annual production capacity of approximately 600
million 2-piece, 33cl aluminum beverage cans. Capabilities to make other can
sizes will be incorporated in the design. Production is expected to commence
in the second quarter of 2011.
"Demand for two-piece beverage cans is growing in China and we expect
that more customers will decide to make the transition from three-piece to
two-piece beverage cans to lower their costs and enhance the quality of their
beverage packaging," said Jozef Salaerts, President of Crown's Asia-Pacific
Division. "China is an important market for us and we are pleased to expand
our capacity with a fifth plant to meet our customers' increased demand."
Cautionary Note Regarding Forward-Looking Statements
Except for historical information, all other information in this press
release consists of forward-looking statements. These forward-looking
statements involve a number of risks, uncertainties and other factors,
including whether demand will continue to grow for two-piece beverage cans in
China and elsewhere in Asia, whether the Company can successfully implement
its plans to build and commence production at the new Hangzhou plant, and the
Company's ability to expand in China, that may cause actual results to be
materially different from those expressed or implied in the forward-looking
statements. Important factors that could cause the statements made in this
press release or the actual results of operations or financial condition of
the Company to differ are discussed under the caption "Forward-Looking
Statements" in the Company's Form 10-K Annual Report for the year ended
December 31, 2009 and in subsequent filings made prior to or after the date
hereof. The Company does not intend to review or revise any particular
forward-looking statement in light of future events.
About Crown Holdings
Crown Holdings, Inc., through its subsidiaries, is a leading supplier of
packaging products to consumer marketing companies around the world. World
headquarters are located in Philadelphia, Pennsylvania. Please visit
For more information, contact:
In Asia:
Jozef Salaerts, President - Asia-Pacific Division; Tel: +65 62294881;
Email: jozef.salaerts@crowncork.com.sg
For Investors:
Thomas A. Kelly, Senior Vice President - Finance, Tel: (215) 698-5341, or
Ed Bisno, Bisno Communications, Tel: (212) 717-7578
For editorial inquiries:
Michael F. Dunleavy, Vice President of Corporate Affairs and Public
Relations; Tel: (215) 698-5051; Email: mdunleavy@crowncork.com
SOURCE: Crown Holdings, Inc.
CONTACT: In Asia: Jozef Salaerts,
President - Asia-Pacific Division,
+65 62294881,
jozef.salaerts@crowncork.com.sg;
for Investors: Thomas A. Kelly,
Senior Vice President - Finance,
+1-215-698-5341,
or Ed Bisno,
Bisno Communications,
+1-212-717-7578;
for editorial inquiries: Michael F. Dunleavy,
Vice President of Corporate Affairs and Public Relations,
+1-215-698-5051,
mdunleavy@crowncork.com
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