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 Packaging, Medical, Mergers & Acquisitions, 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

Ferro sells another piece of its plastics business

December 19, 2014 3:33 pm ET

Ferro Corp. has sold its North American polymer additives business to a private equity firm for $154 million in cash.    More

Image

Alex Brands buys iconic Shrinky Dinks toys

December 19, 2014 3:15 pm ET

First Slinky, now Shrinky Dinks. What will toy and games investment firm Alex Brands buy next?    More

Image

Jarden hiring for new plastics plant

December 19, 2014 1:45 pm ET

Consumer products conglomerate Jarden Corp. is hiring plastics technicians for a new operation in Erlanger, Ky.    More

Image

The return of HPM's big presses

December 19, 2014 11:47 am ET

HPM is back in big injection molding machines.    More

Image

Thailand's SCG Chemicals buying Norwegian chemical firm Norner

December 19, 2014 9:11 am ET

Thailand's SCG Chemicals Co. Ltd. has announced it has acquired 51 percent of the shares in the independent petrochemical company Norner Holding AS fr...    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Upcoming Plastics News Events

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

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

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events