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Can-maker Rexam plc acquires stake in Magnaparva Packaging
Edited by : AL CIRCLE
1 min read
Rexam plc today announced the acquisition of an equity stake in Magnaparva Packaging, a part of UK-based engineering group Magna Parva, to help develop new technological solutions for its beverage can-making process.
Rexam didn’t disclose the value of its investment or the size of the stake acquired.
Lisa Carroll, director of technology at Rexam, commented in a statement that the new partnership will be a key element of the company plans to ensure Rexam’s leadership in can-making.
According to the statement, Magnaparva Packaging focuses on providing value-adding research and development and technology development services to the packaging industry. The division designs, develops and delivers ‘innovative solutions and products’ into the metal packaging industry ‘where there will be a significant impact’.
Rexam said that the stake in Magnaparva Packaging will enable Rexam to harness specialist expertise gained in the aerospace and defence sectors and apply it to can-making, with the aims making cans lighter and reducing energy consumption during production.
Rexam didn’t disclose the value of its investment or the size of the stake acquired.
Lisa Carroll, director of technology at Rexam, commented in a statement that the new partnership will be a key element of the company plans to ensure Rexam’s leadership in can-making.
According to the statement, Magnaparva Packaging focuses on providing value-adding research and development and technology development services to the packaging industry. The division designs, develops and delivers ‘innovative solutions and products’ into the metal packaging industry ‘where there will be a significant impact’.
Rexam said that the stake in Magnaparva Packaging will enable Rexam to harness specialist expertise gained in the aerospace and defence sectors and apply it to can-making, with the aims making cans lighter and reducing energy consumption during production.
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