Crown Holdings Expands North American Footprint with New Beverage Can Plant in Mesquite, Nevada

Rhea-AI Summary

Crown Holdings (NYSE: CCK) announced the establishment of a new aluminum beverage can manufacturing facility in Mesquite, Nevada. This state-of-the-art plant, spanning 355,000 square feet, aims to enhance the company's capacity to serve both existing and potential customers in the Western U.S. The facility is projected to create 126 jobs and is expected to commence operations in Q2 2023. Driven by long-term customer contracts, this investment reflects Crown's commitment to meet the growing demand for aluminum beverage cans amidst rising consumer preferences for sustainable packaging.

Positive

• Establishment of a new aluminum beverage can facility in Mesquite, Nevada.
• The plant will create 126 new jobs.
• Expected to begin operations in Q2 2023.
• Supports increased demand for aluminum cans, benefiting long-term customer contracts.

Negative

• Risks associated with meeting construction timelines and production targets.
• Uncertainties regarding continued demand growth for aluminum beverage cans.

YARDLEY, Pa., Sept. 24, 2021 /PRNewswire/ -- Crown Holdings, Inc. (NYSE: CCK) (Crown), reported today that its previously announced Southwestern United States aluminum beverage can manufacturing facility will be located  in Mesquite, Nevada. This two line state-of-the-art plant will supply standard and specialty beverage cans to the Company's customers serving a variety of categories, including carbonated soft drinks, sparkling water, energy drinks, hard seltzers, beer and ready-to-drink cocktails. This facility improves the Company's ability not only to serve existing customers in the Western United States, but also to support growth of new beverage introductions in aluminum cans.

"This investment, underpinned by long-term customer contracts, continues to demonstrate Crown's commitment to meet the increased demand for aluminum beverage cans," said Timothy J. Donahue, President and Chief Executive Officer. "Consumers continue to seek beverage options predominantly in cans and are increasingly aware of the sustainability benefits of the aluminum can. On behalf of Crown, I would like to thank our many partners for their coordinated efforts in this initiative, including the Nevada Governor's Office of Economic Development, Las Vegas Global Economic Alliance, Mesquite City Public Works and Development Services, and Cody Law and Colton Teerlink of Citywide Consultants who served as advisors to the City of Mesquite, Nevada."

Located in the Mesquite Technology and Commerce Center, the 355,000 square foot facility is expected to begin operations in the second quarter of 2023 and will create 126 new jobs.

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 aluminum beverage cans in North America, and whether the Company can successfully implement its plans to construct a new plant and meet related time and production targets (including obtaining any required consents and approvals which could delay or prevent expansion), 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, 2020 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, 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 Yardley, Pennsylvania.  For more information, visit www.crowncork.com.

For investors, please contact:
Thomas T. Fischer, Vice President, Investor Relations and Corporate Affairs, (215) 552-3720

For other local inquiries, please contact:
Jon Beam, Director of Marketing, CROWN Beverage Packaging North America, (215) 698-5248

View original content:https://www.prnewswire.com/news-releases/crown-holdings-expands-north-american-footprint-with-new-beverage-can-plant-in-mesquite-nevada-301384374.html

SOURCE Crown Holdings, Inc.

FAQ

What is the location of Crown Holdings' new facility?

The new facility is located in Mesquite, Nevada.

When will the new Crown Holdings facility start operations?

The facility is expected to begin operations in the second quarter of 2023.

How many jobs will the new Mesquite facility create?

The new facility is expected to create 126 jobs.

What is the purpose of Crown Holdings' new facility?

The facility will supply standard and specialty aluminum beverage cans to various beverage categories.

What are the risks mentioned in Crown Holdings' press release?

Risks include uncertainties in demand growth and challenges in meeting production targets.