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Acquires 51 percent stake in United Arab Can Manufacturing Limited for US$122 million
February 14, 2014
By: DAVID SAVASTANO
Editor, Ink World Magazine
Rexam PLC announced that it has signed an agreement to acquire a 51% stake in beverage can maker United Arab Can Manufacturing Limited (UAC) for US$122m. The transaction is subject to regulatory approvals and is expected to complete in Q3 2014. UAC makes beverage cans and can ends and is situated in Dammam, Saudi Arabia. The plant has an annual capacity of 1.8 billion cans in both standard and specialty sizes. In 2012, the company generated EBITDA of $29 million. Current shareholders of UAC co...
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