Crown Holdings to build high-speed aluminum line in Spain

Yardley-based Crown Holdings, a rigid packaging products supplier, recently announced that it will build a new high-speed aluminum line at its Agoncillo, Spain, beverage-can facility.

The additional capacity will help the company serve growing customer demand in Northern Spain. The Iberia region is witnessing robust growth in the alcoholic and nonalcoholic segments.

Commercial production is expected to begin during the first quarter of next year.

Crown is the leading company in the Iberia region, the second-largest beverage-can market in Europe. The company also operates aluminum beverage-can plants in Valencia and Seville.

The company also recently announced its financial results for the first quarter that ended March 31. Net sales were $3,162 million, income from operations was $344 million, and net income was $216 million.

During the first quarter, Crown Holdings entered into an agreement to sell the Transit Packaging segment’s Kiwiplan business for approximately $182 million. The business provides logistics planning, analytical software, 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, transit and protective packaging products, and equipment and services to end markets.