Sonoco to Purchase Crown Cork & Seal's Composite Can Assets

Hartsville, SC-based Sonoco today announced that it has reached a definitive agreement to purchase all of the composite can assets of Crown Cork & Seal Co. Inc., according to Peter C. Browning, president and CEO. Terms of the agreement were not disclosed. Crown Cork & Seal's composite can business had 1998 sales of approximately $32 million. The all-cash purchase is subject to regulatory approval.

Crown Cork & Seal manufactures composite cans at three facilities located at Massillon, OH; Murfreesboro, TN; and Winter Garden, FL. Sonoco has 51 global composite can operations, including 37 in North America.

Sonoco is a $2.6 billion manufacturer of industrial and consumer packaging products with approximately 275 operations in 32 countries serving customers in some 85 nations.