via CAAI
PHILADELPHIA, Sept. 9 /PRNewswire/ -- Crown Holdings, Inc. (NYSE: CCK), a leading supplier of metal packaging products worldwide, announced today that its subsidiary, CROWN Asia Pacific Holdings Ltd., plans to install a second beverage can line in its existing facility in Phnom Penh, Cambodia.
The new line is expected to be operational in the fourth quarter of 2011 and have an initial annual production capacity of 700 million two-piece 33cl aluminum beverage cans, which will expand the plant's capacity to 1.3 billion cans.
As the capital and largest city of Cambodia, Phnom Penh has grown to become the nation's center of economic and commercial activities. Situated on the banks of the Mekong River, it is the wealthiest and most populous city in the country as well as its political center. Growth rates in recent years have triggered an economic boom and the country's many historical and cultural sites make it a popular tourist destination.
"We are excited to see the Cambodian market's growing demand for beverage cans", commented Jozef Salaerts, President of Crown's Asia-Pacific Division. "The country is developing rapidly with more customers choosing the two-piece aluminum can as their packaging preference. We are pleased to support the growing needs of our global and regional customers and help them continue to build their brands."
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 beverage cans in Cambodia and whether the Company can successfully implement its expansion plans and meet production targets in its Phnom Penh plant, 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 http://www.crowncork.com/ .
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