February 21: Rexam, the world’s largest beverage canmaking company, expects to return to profit growth in 2008 following a challenging year.
Company profit in 2007 was hit by high aluminium and energy costs, a weak dollar, a strike at nine US plants and the delay of its new end-making operation at Manaus in Brazil.
Announcing the company’s annual results, chairman Rolf Börjesson said that despite the economic outlook and the inflationary input cost environment, synergies from recent acquisitions such as Russian canmaker Rostar would lead to increased organic growth this year.
“In 2008, we expect to see continued top line growth across our upgraded portfolio and as our investment in organic growth begins to bear fruit,” he said.
