American National Can to Expand Capacity in Spain.CHICAGO--(BUSINESS WIRE)--Sept. 24, 1999-- American National Can Group, Inc. (NYSE NYSE See: New York Stock Exchange : CAN), a world leader in the production of beverage cans, today announced that the Company will proceed with a capacity expansion in its plant in Valdemorillo, Spain. To begin during the fourth quarter of this year, this expansion will ultimately increase production in the Valdemorillo facility near Madrid by more than 60%. The new capacity is needed to meet the strong demand in the Spanish beverage can market. American National Can's (ANC ANC abbr. African National Congress ANC African National Congress: South African political movement instrumental in bringing an end to apartheid ANC n abbr (= ) chairman and chief executive officer Edward A. Lapekas said, "Minimizing capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. while realizing the full potential of existing assets is our core business strategy. We are also committed to selectively pursuing opportunities in those markets where growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. are particularly attractive. The expansion in Spain is consistent with our stated investment plans and strengthens our leadership positions in Europe, and particular strength in the fast growing Southern region." Michael D. Herdman, president, Beverage Cans Europe and Asia, added: "The Spanish beverage can market has been growing at a double-digit rate for several years. This consistent growth merits additional production capacity in Spain where excess demand has previously been supported by imports from other European operations." ANC holds a leading position in the manufacturing of beverage cans and maintains strategic partnerships with world leaders For a list of heads of state, see . World leaders is a MMORPG. The game involves creating a state, joining an alliance and going into war. It is mostly played by players from Israel, China, USA, Britain, Brazil and Saudi-Arabia. in the soft drink and beer industry. ANC encompasses 34 beverage can plants and end plants in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and across Europe, along with operations in Brazil and Turkey and majority or minority interests in operations in key markets such as Mexico, Japan, South Korea and China. The company shipped 38.7 billion aluminum and steel beverage cans in 1998. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion