BRITISH multinational packaging firm Rexam yesterday announced it had, alongside partner firm Envases Universales de Mexico (EUM), completed an investment in Envases Del Istmo (Endelis), a single line beverage can plant in the Panamanian city of Colon.
The pair have agreed long-term supply agreements with SAB Miller and Florida Ice & Farm Company, whose affiliates previously owned the Endelis business.
Commenting on the transaction, Rexam chief executive Graham Chipchase said: “We are pleased to have jointly acquired the Endelis business in Panama and expanded our relationship with EUM.
“It is fully in line with our emerging markets strategy and complements our existing Central America footprint. The transaction positions us well to serve both our local and global customers in an exciting growth region."
Founded in 1923, the London-based Rexam employs 8,000 staff and had revenues of just under £4bn in 2013.
The London-listed company’s stock price finished 1.2 per cent up in trading yesterday, closing at 442.8p per share.