April 30: Leading US food can manufacturer Silgan will close its canmaking plant at Tarrant, Alabama as part of its push to streamline operations. It is part of a strategy that has already paid off with better-than-expected first-quarter results.
Net sales of the company’s food can business increased by 1.6 percent year-on-year to $351.2m due primarily to higher selling prices. Profits in the sector fell by 13 percent to $25.1m, but margins held at 7.1 percent.
Chief executive Tony Allott said: “Our metal food container business exceeded our expectations due to effective cost management and strong manufacturing performance.”
