Transaction / Assets Seller Buyer € MM
Crown Holdings Will Invest €66M In Canning Plant In Parc Sagunt
10 July 2017 – Levante-EMV
The US multinational Crown Holdings will invest €66 million in the construction of its aluminium can manufacturing plant in Parc Sagunt. The arrival of this company, which has strong roots in Spain, but which had never set up shop in the Communidad Valenciana before, means that there is barely any available land left at the capital’s mega industrial estate in Campo de Morvedre. The firm will occupy 60,000 m2 (15%), which in addition to the 70% of land acquired by Mercadona and the plot to be taken over by Puerto de Valencia, means that the Generalitat is now under pressure to commence development of the second phase of the logistics hub.
The President of the Generalitat, Ximo Puig, announced on Thursday that the Board of Directors of Parc Sagunt, would approve a new investment from a multinational on Friday. This company, according to sources close to the operation, is the US firm Crown Holdings, one of the largest manufacturers of metal containers for food in the world. The firm’s new facilities will result in the creation of more than one hundred direct jobs and around twenty indirect roles.
Crown Holdings has a presence in Spain (Crown Bevcan España and Crown Embalajes España) as well as in another 40 countries and records net sales amounting to more than $6.2 billion. In 2014, it purchased the Spanish group Mivisa, which is headquartered in Murcia and which was one of its main competitors in the country, for €1,200 million.
The US firm is a supplier of Jealsa, in turn, which produces canned fish for Mercadona. Although in the case of the plant in Sagunt, the company plans to enable an aluminium can production line for drinks. Its clients include Nestle, amongst others (…).
Original story: Levante-EMV (by Sergi Pitarch)
Translation: Carmel Drake