Rexam invests in new facilities
surge in demand for canned drinks. The group is building two new
beverage can making lines at existing plants in Naro Fominsk near
Moscow and in La Selva, Spain.
Rexam is investing £40 million (€62m) in production facilities after a surge in demand for canned drinks.
The group is building two new beverage can making lines at existing plants in Naro Fominsk near Moscow and in La Selva, Spain.
Rexam says the £18 million investment in Russia had been prompted by a surge in beer consumption in the country.
A spokesman added: "The can market in Russia has doubled to 2 billion cans in the last year alone and is expected to grow at a very fast pace in the years to come."The £22 million Spanish investment comes after strong growth over recent years across the country's soft drinks and beer markets.
London-based Rexam first moved into the can market by buying Swedish packaging group PLM in 1999. It then snapped up American National Can for £1.3 billion in mid-2000.
Chief executive Rolf Borjesson said Rexam's overall results had been boosted by growth in the European beverage can market.
He added: "The £40 million investment in these two lines will help ensure that we are in a position to take full advantage of the growth potential in these vibrant markets."
