CROWN HOLDINGS COMPLETES HELVETIA PACKAGING ACQUISITION

Rhea-AI Summary

Crown Holdings completes acquisition of Helvetia Packaging AG, expanding European beverage can platform into Germany and adding one billion units of annual capacity.

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• Expansion into Germany and addition of one billion units of annual capacity will help serve growing customer demand for recyclable beverage cans.

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• None.

TAMPA, Fla., Oct. 3, 2023 /PRNewswire/ -- Crown Holdings, Inc. (NYSE: CCK) (Crown) (www.crowncork.com) has completed its previously announced acquisition of Helvetia Packaging AG, a beverage can and end manufacturing facility in Saarlouis, Germany.

Through the acquisition, Crown assumes Helvetia's existing customer base and accompanying contracts, as well as 200 current employees. The addition of the facility expands Crown's European beverage can platform into Germany and adds approximately one billion units of annual capacity, helping to serve growing customer demand for infinitely recyclable beverage cans.  

About Crown Holdings, Inc. 

Crown Holdings, Inc., through its subsidiaries, is a leading global supplier of rigid packaging products to consumer marketing companies, as well as transit and protective packaging products, equipment and services to a broad range of end markets. World headquarters are located in Tampa, Florida. For more information, visit www.crowncork.com.  

For more information, contact Emily Hogan, Account Supervisor, FINN Partners; email: emily.hogan@finnpartners.com

Cautionary Note Regarding Forward-Looking Statements

Except for historical information, all other information in this press release consists of forward-looking statements within the meaning of federal securities law. These forward-looking statements involve a number of risks, uncertainties and other factors, including whether the sales and profits of Helvetia will continue to grow and whether the combination of the Company and Helvetia will provide benefits to customers 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 report 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, 2022 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.

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SOURCE Crown Holdings, Inc.