Rexam healthcare sale 'progressing'

Hamish Champ
PRW

Published: November 14, 2013 11:30 am ET
Updated: November 14, 2013 11:34 am ET

Related to this story

Topics Mergers & Acquisitions, Medical, Packaging, Injection Molding, Molds/Tooling
Companies & Associations Rexam PLC

Rexam plc, the packaging giant, said today that the process to sell off its healthcare division was "progressing according to plan."

Financial analysts expect the division, which contributed £427 million of Rexam's total sales of £4.3 billion in 2012, could be sold either side of its December financial year end, with completion following sometime during the first quarter.

The speed of any sale would depend on the type of buyer lined up to take on the business; a private equity deal would be more quickly resolved than a trade buyer which could result in a competition investigation.

Rexam said its overall global volumes in its beverage can business grew 3 percent in the third quarter and while it anticipated some volume increase next year trading conditions would be tough.

Graham Chipchase, Rexam's chief executive, said: "We continue to expect our full year performance to show improvement over 2012.

"We will continue with our strategy of optimising cash, managing costs and driving return on capital employed.

"Our return on capital employed target remains 15 percent, and we are committed to maintaining returns around that level as we take advantage of the opportunities to grow the business."


Comments

Rexam healthcare sale 'progressing'

Hamish Champ
PRW

Published: November 14, 2013 11:30 am ET
Updated: November 14, 2013 11:34 am ET

Post Your Comments


Back to story


More stories

Image

Cascade Engineering founder Keller to step down as CEO

September 16, 2014 8:33 pm ET

Cascade Engineering Inc. is undergoing a transition as President Mark Miller will also add the role of CEO, replacing founder Fred Keller, who has...    More

Image

Canadian, Mexican injection molders form auto supply joint venture

September 16, 2014 2:26 pm ET

A new automotive parts manufacturer will open in Querétaro, Mexico, through a joint venture between Canadian automotive supplier Papp Plastics and...    More

Image

NY packaging company aims for zero waste

September 16, 2014 1:36 pm ET

Plastic folding carton maker Diamond Packaging is no longer sending any manufacturing waste to landfills.    More

Image

Flexibility for complexity key for Brampton

September 16, 2014 11:26 am ET

Blown film machinery maker Brampton Engineering Inc. is well positioned to meet growing demand for complex film structures, highly customized...    More

Image

Here's a peek behind our 2014 film & sheet ranking

September 15, 2014 1:22 pm ET

Today Plastics News publishes its annual ranking of North American Film and Sheet Manufacturers. Let's look at some interesting numbers behind the ran...    More

Market Reports

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events