CROWN HOLDINGS- 2Q18 Comments
Crown, the world’s No. 3 can producer, has reported very solid 2Q18 results. Sales came in at $3,046m, up 41% yoy, including 28% from the acquisition of Signode in April, 4% from favorable FX. and 9% from organic growth. The organic performance has been relatively strong, keeping pace with the growth rate of the previous quarter, thanks to good volumes (+4%), particularly in Brazil, North America and Southeast Asia, as well as the increase in prices following higher material costs.
Crown Holdings is engaged in the design, manufacture and sale of packaging products and equipment for consumer goods and industrial products. The company's packaging for consumer goods include steel and aluminum cans for food, beverage, household and other consumer products, glass bottles for beverage products, metal vacuum closures and steel crowns. The company's packaging for industrial products includes steel and plastic strap consumables and equipment, paper-based protective packaging, and plastic film consumables and equipment. The company's products include the SuperEnd? and 360 End? beverage can ends, its Easylift? aperture steel food can ends, and PeelSeam? and PeelFit? aluminum foil laminated ends.
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