rexam sells image in £42m us deal

by:Rocket PCB     2019-11-01
Packaging giant Rexam sold its image products business for £ 42, marking the final stage of its restructuring plan.
S. Private investment group Sun Capital is buying the unit, which makes electronic films for printed circuit boards and makes coatings for prints and photos.
Picture products company Runcorn and Wrexham, two sites in the UK, will be transferred to the new owner without layoffs. London-
A series of non-headquarters in Rexam
Core assets since buying canned American countries for 1 pound.
3bn two years ago
The deal made the group the world\'s largest maker of beverage cans and decided to withdraw from the film and paper, construction and printing markets.
Rexam is looking to raise £ 800 from the restructuring, and chief financial officer Michael Hartnall said today\'s sale means the plan is coming to an end.
Two years ago, we said we would pay for the National Petroleum Corporation.
Value of items sold
This actually completes the process, he said.
The group still has buyers at the weather-resistant film factory in South Carolina.
Image products generated £ 154 in sales last year, but lost money after being hit by a slowdown.
Mr. Hartnall said: \"The situation in the electronics industry is not optimistic, so it is not easy to sell.
The company was profitable a few years ago and would have been worth more, but lost money last year.
\"Image products operations also has four factories in the United States, with a total operating asset of £ 35 m.
Last month, Rexam reported that the group\'s operating profit in 333 was 2001, up from 278 in the previous year.
The company said the growth was driven by the integration of national cans in the United States and the transformation of the plastic packaging sector.
Rexam\'s share price fell by 3, 1/2 p at 462 p by mid-termmorning.
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