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AMERICAN NATIONAL CAN TO SELL AEROSOL BUSINESS

 AMERICAN NATIONAL CAN TO SELL AEROSOL BUSINESS
 CHICAGO, Oct. 9 /PRNewswire/ -- American National Can Company (ANC)


announced today that it has entered into an agreement with United States Can Co. to sell ANC's remaining aerosol can making business. The transaction, expected to be completed in 1992, encompasses the operations of ANC's Englewood (Chicago) and Green Bay, Wis., plants.
 "We have been unable to compete effectively in the aerosol markets because of unfavorable wage and benefit levels, which in some plants are double that of our competition," said Steve Friesen, chief operating officer of Food North America.
 United States Can is expected to operate the Green Bay plant, and will offer employment to the existing workforce. The 71-year-old Englewood plant will be shut down, except for a small food can making operation, which will continue into 1993, when the shutdown will be completed.
 Approximately 280 active employees are affected at the Englewood facility. Virtually all of them are eligible for supplemental unemployment benefits (SUB) and full retirement; SUB guarantees 70 percent of base pay for two years. Group health insurance will also be continued for two years.
 "We have implemented a number of measures to lower costs and to improve efficiencies, as well as attempted to renegotiate labor contracts. Regrettably, we could not offset high labor costs, so sale of the business was our last alternative," said Friesen.
 American National Can Co. is a world-leading $4.5 billion packaging manufacturer, producing a wide spectrum of metal, glass and plastic packaging products. It operates more than 100 facilities in 12 countries. Headquartered in Chicago, it employs approximately 2,000 people at 11 plants and offices in Chicago and surrounding communities.
 -0- 10/9/92
 /CONTACT: Carol Constantine, vice president-corporate communications of American National Can, 312-399-3786/ CO: American National Can Company; United States Can Co. ST: Illinois, Wisconsin IN: SU:


AH -- NY053 -- 8407 10/09/92 13:59 EDT
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Publication:PR Newswire
Date:Oct 9, 1992
Words:316
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