can maker Rexam Plc is close to shedding all businesses
that dont produce cans after announcing the proposed sale
of the majority of its health-care unit to Montagu Private
Equity LLP for $805 million.
The sale is part of
London-based Rexams long-term strategy to "maximize
shareholder value," chief executive officer Graham Chipchase
said in a statement Feb. 3.
Chipchase has already
overseen the sale of Rexams personal care and food
container businesses, and will now divest the health-care arm,
which comprises pharmaceutical devices, prescription retail
packaging, and closures and containers.
Rexam is in
discussions on the sale of the closures and containers
"Following the sale of
health care, we will be a focused beverage cans business with a
strong financial position," Chipchase said. "We will continue
to pursue selective investment opportunities in beverage cans
in higher growth markets."
A version of this
article was first published in AMM sister publication Metal