Silgan benefits from new business in Europe

Silgan Holdings, which is awaiting the approval of its acquisition of Graham Packaging to create a global metals to plastics packaging giant with annual sales of more than US$6.2 billion, reported first quarter sales up by 5.2 percent to $703 million, compared with the same period of 2010.

The acquisition in March of Vogel & Noot in Europe and improved closure business contributed some of the sales increase and compensated for lower US unit volumes in the metal container business. Net profit was down 5.5 percent at $53.6m.

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