TAMPA,
Fla., Dec. 4, 2024 /PRNewswire/
-- Following the closing today of the previously announced
sale of Eviosys to Sonoco Products Company, Crown Holdings, Inc.
(NYSE: CCK) (Crown) will receive net cash proceeds of
approximately $300 million in return for its
remaining equity stake of approximately 20%.
Commenting
on the transaction, Kevin Clothier, Crown's
Senior Vice President and Chief Financial
Officer, stated, "This completes the strategic divestiture of
our European Tinplate business. We are pleased that this
transaction has closed in a
timely manner, and the
proceeds will support our stated objective of
ending the year with a net leverage ratio
below 3.0x, while continuing to progress toward our
longer-term target of 2.5x."
About Crown Holdings, Inc.
Crown Holdings, Inc., through its subsidiaries,
is a leading global supplier of rigid packaging
products to consumer marketing companies, as well as transit and
protective packaging products, equipment and services to a broad
range of end markets. World headquarters are located in
Tampa, Florida. For more
information, visit www.crowncork.com.
For more information, contact:
Kevin C. Clothier, Senior Vice
President and Chief Financial Officer, (215) 698-5281, or
Thomas T. Fischer, Vice President, Investor
Relations and Corporate
Affairs, (215) 552-3720
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SOURCE Crown Holdings, Inc.
