Warm weather helps can firm Rexam despite tough economy

 
City A.M. Reporter
DRINKS can maker Rexam said yesterday that third-quarter global beverage cans volume rose three per cent, helped by a hot summer in western Europe, but the gain was partially offset by weakness in Russia, Egypt and Turkey.

Rexam, which counts Coca-Cola, Pepsi, Red Bull and Heineken among its customers, said it sees challenges in Europe, North America in 2014.

“Looking into next year, while we anticipate some volume growth, we will have to contend with the difficult macroeconomic backdrop in Europe and the impact of a maturing specialty can market in North America,” the company said in a statement.

Rexam said it expects emerging markets such as Brazil and India to perform well in 2014.

The firm expects to announce an agreed price for the sale of its healthcare business by the year end or early next year, chief executive Graham Chipchase told Reuters.

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