Yardley-based Crown Holdings, a supplier of rigid packaging products, recently announced it would build a new high-speed aluminum line at its drinks can plant in Agoncillo, Spain.
The additional capacity will help the company meet growing customer demand in northern Spain. The Iberia region is experiencing strong growth in the alcoholic and non-alcoholic segments.
Commercial production is expected to begin in the first quarter of next year.
Crown is the leading company in the Iberian region, the second largest can market in Europe. The company also operates aluminum can factories in Valencia and Seville.
The company also recently announced its financial results for the first quarter ended March 31. Net sales were $3,162 million, operating profit was $344 million and net profit was $216 million.
During the first quarter, Crown Holdings reached an agreement to sell the Kiwiplan business of the Transit Packaging segment for approximately $182 million. The company provides logistics planning, analytics and manufacturing execution systems for corrugated packaging operations.
The sale is subject to closing conditions but is expected to close during the second quarter.
Crown Holdings, through its subsidiaries, provides rigid packaging products, transport and protective packaging products, and equipment and services to end markets.