06 FEBRUARY 2015AlCircle.com
Crown Holdings reports higher earnings and positive future prospects
Edited by : AL CIRCLE
1 min read
Crown Holdings, a leading producer in global metal packaging products, reported a 31% YoY growth in earnings spurred by the strong demand for beverage cans in developing markets like Turkey and South-East Asia.
In its third quarter earnings of 2014, the company reported $1.36 earnings per share while increasing its full-year earnings guidance to $3.27-$4.43 range.
The market for carbonated soft drinks is weak in U.S. with growing health concerns related to the over-consumption of the drink while Asia Pacific is bogged down by the Chinese oversupply of metal creating fierce competition in the domestic can production industry. In Europe the industry is threatened by the high premiums.
However, the acquisition of Mivisa and EMPAQUE will benefit Crown Holdings considerably despite the fact that the company has substantial outstanding indebtedness.
Mivisa will increase the company’s presence in Spain which is one of the most agricultural based economies in Europe giving it a surer foothold in the European food-can segment.
EMPAQUE will expose the company to the Mexican market strengthening its global packaging business enough to make the company North America’s second largest beverage can producer.
In its third quarter earnings of 2014, the company reported $1.36 earnings per share while increasing its full-year earnings guidance to $3.27-$4.43 range.
The market for carbonated soft drinks is weak in U.S. with growing health concerns related to the over-consumption of the drink while Asia Pacific is bogged down by the Chinese oversupply of metal creating fierce competition in the domestic can production industry. In Europe the industry is threatened by the high premiums.
However, the acquisition of Mivisa and EMPAQUE will benefit Crown Holdings considerably despite the fact that the company has substantial outstanding indebtedness.
Mivisa will increase the company’s presence in Spain which is one of the most agricultural based economies in Europe giving it a surer foothold in the European food-can segment.
EMPAQUE will expose the company to the Mexican market strengthening its global packaging business enough to make the company North America’s second largest beverage can producer.
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