Also, its 49% interest in the holding company for Crown’s joint venture facility in Hanoi, Vietnam for an aggregate purchase price of $150m.
Consolidated 2009 net sales for the above operations was approximately $250m. Upon consummation of the acquisition, the holding companies will be wholly-owned subsidiaries of Crown.
“The acquisition, along with our previously announced decisions to expand production capacity in China and Vietnam, supports Crown’s emerging markets growth initiative in Asia,” said John W Conway, chairman and CEO of the company.
The transaction is subject to certain closing conditions and is expected to close during the third quarter.
Source: Crown Holdings
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