Packaging News
Consumer packaging giant Rexam has said that it has seen strong beverage can growth in Africa, the Middle East and Asia
It published its interim management statement today (18 April) for the period from 1 January 2013 and said its financial performances is largely in line with its predictions.
Growth
Rexam said that it saw strong beverage can growth in Africa, the Middle East, Asia and Scandinavia. It also said that volume growth win North America was driven by anticipated contractual gains.
However, it said that, in Europe, good growth in Scandinavia was largely offset by weakness in Russia and a slow start to the year in the rest of Western Europe.
Nevertheless, Rexam explained that its new plant in Belem has now begun production and will it to capture growth in standard cans in the northern region and free up capacity to meet speciality can demand.
Cost savings
“Our global can volume growth of 3% was slightly lower than expected, but the financial impact was offset by foreign exchange translation benefits and cost savings,” the firm said in a statement.
Graham Chipchase, Rexam’s chief executive said: “Overall financial performance was in line with our expectations. Although volume growth so far has been slower than anticipated, especially towards the end of the quarter, this was offset by foreign exchange translation benefits and cost savings.
“It is still early in the year, and the busy summer season traditionally influences our full year results. We continue to expect to make further progress in 2013 and remain on track to achieve our 15% return on capital employed target.”
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