Rexam Q3 in line with expectations on volume growth for cans

16 November 2010 08:44  [Source: ICIS news]

SINGAPORE (ICIS)--Rexam’s third-quarter results were “in line” with its expectations, driven by strong volume growth in specialty cans and cost-reduction measures, the UK-based consumer packaging company said in an interim report on Tuesday.

“We are investing in carefully selected, high return projects in emerging markets and higher growth segments that will improve our overall growth prospects, while keeping capital expenditure under tight control,” said Graham Chipchase, Rexam’s chief executive.

The company reported net debt of £1.7bn ($2.3bn, €2.0bn) in September 2010.

“We continue to expect our results in the second half of 2010 to be similar to those of the first and remain focused on cash, cost and return on capital to ensure our business is in good shape going into 2011,” Chipchase added.

Rexam said it would continue to invest in additional capacity to meet the strong demand for beverage cans in South America and specialty cans in North America.

($1 = €0.74, €1 = £0.85)

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By: Nurluqman Suratman

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