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Rexam is open to offers for its personal care plastic packaging business

November 23/2011

(Plasteurope) -- Global consumer packaging company Rexam (London/UK) is open to offers for its personal care plastic packaging business. Divestment is one of the options under consideration, according to an interim management statement dated 17 November, following continuing weak performance. Earlier in the year the company said sales in the healthcare business were down 3.7%, with turnover in personal care static. Overall, the plastic packaging business is not performing to expectations, principally because of lower volumes and despite the cost actions that have been taken to protect profitability.

The weakness in plastic packaging has been offset by results in the beverage cans business, which are slightly ahead of plan. Outside Russia, where can sales have been soft, Rexam managed to grow volumes in Europe. In the US there was strong growth in specialty cans and the business is said to be on track to deliver profits ahead of 2010. Trading improved in South America, too, despite slower market growth.

Perspectives of development of the polymers markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit is organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.

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