UK – American manufacturer of metal beverage and food cans Crown Holdings has announced plans to build a new beverage can facility in Peterborough, United Kingdom.
The announcement comes on the heels of a similar move by Ball Corporation which announced that it was building its “largest-ever” beverage packaging plant in the UK.
The investments by both companies are timely as beverage cans are on high demand due to their sustainability credentials.
Aluminum cans also have an unparalleled safety record and currently represent one of the most widely used containers, owing to their ability to preserve the quality and flavor of the contents.
These cans are also non-toxic in nature, can be reprocessed and require less care during handling and distribution.
Also, they are easily moldable, which provides manufacturers with the ease of printing.
Unlike plastic or glass, aluminum cans can be recycled infinitely making them a top choice for customers and consumers alike.
Additionally, a growing proportion of new beverages in the U.K. is being introduced in cans, providing further market opportunities for both Ball and Crown Holdings.
Construction on the Peterborough plant will begin during the second quarter of 2022 with the first line expected to commence production during the second quarter of 2023.
Upon completion, the facility will measure 625,000 feet and will employ 280 people, according to a statement from Crown Holdings.
Additional lines are planned in a phased manner to reach over three billion units of annual capacity.
Earlier, Wall Street brokerages predicted that Crown Holdings, Inc. will post US$3.00 billion in sales for the current quarter.
Six analysts have issued estimates for Crown’s earnings, with estimates ranging from US$2.87 billion to US$3.15 billion.
Crown reported sales of US$3.08 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.6%.
On average, analysts expect that Crown will report full-year sales of US$12.83 billion for the current financial year, with estimates ranging from US$12.49 billion to US$13.15 billion.
For the next financial year, analysts anticipate that the business will post sales of US$13.37 billion, with estimates ranging from US$12.73 billion to US$13.87 billion.
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE