CROWN HOLDINGS, INC. TO ADD SECOND HIGH-SPEED LINE TO PARMA, ITALY BEVERAGE CAN PLANT

Rhea-AI Summary

Crown Holdings, Inc. (NYSE: CCK) announced the construction of a second high-speed line at its aluminum beverage can facility in Parma, Italy, with commercial production set to begin in Q1 2023. This expansion will enable the production of over one billion cans annually and create 80 new jobs. The move aims to meet the growing demand for infinitely recyclable beverage cans in the carbonated soft drink, sparkling water, beer, and wine segments, especially as these products gain popularity among customers and consumers in Italy.

Positive

• New high-speed line in Parma will produce over one billion cans annually.
• Expansion will create 80 jobs at the Parma facility.
• Strategic move to meet increasing customer demand in Italy and surrounding markets.

Negative

• None.

YARDLEY, Pa., July 19, 2022 /PRNewswire/ -- Crown Holdings, Inc. (NYSE: CCK) announced today that it will construct a second high-speed line at its Parma, Italy aluminum beverage can facility.  Commercial production is expected to commence during the first quarter of 2023, and the additional capacity will serve expanding customer requirements in Italy and surrounding markets.  The new line will produce more than one billion cans annually and add 80 jobs to the Parma plant.  The first line in Parma began operations in early 2019.

Infinitely recyclable beverage cans, the world's most recycled and responsible beverage packaging option, are increasingly preferred among both customers and consumers in Italy, resulting in accelerating market growth.  The new line will meet expanding demand in the carbonated soft drink, sparkling water, beer and wine segments of the market.

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

View original content:https://www.prnewswire.com/news-releases/crown-holdings-inc-to-add-second-high-speed-line-to-parma-italy-beverage-can-plant-301589148.html

SOURCE Crown Holdings, Inc.

FAQ

What is the significance of Crown Holdings' new line in Parma, Italy?

The new line will produce over one billion aluminum beverage cans annually, helping to meet rising demand in Italy's beverage market.

When will the new production line at Crown Holdings' Parma facility start operations?

Commercial production is expected to begin in the first quarter of 2023.

How many jobs will be created with the new line at Crown Holdings in Parma?

The expansion will add 80 jobs to the Parma plant.

What types of products will the new line at Crown Holdings support?

The line will support the production of cans for carbonated soft drinks, sparkling water, beer, and wine.

What is the stock symbol for Crown Holdings?

Crown Holdings trades under the stock symbol CCK on the NYSE.