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TAMPA - Crown Holdings, Inc. (NYSE: CCK) has announced the expansion of its Ponta Grossa beverage can plant in Brazil with the addition of a third high-speed production line. The new line is a response to the growing demand from both alcoholic and non-alcoholic beverage sectors in the country’s southern region. The company, currently trading near its 52-week high of $100.23, has demonstrated strong financial performance with annual revenue of $11.9 billion and EBITDA of nearly $2 billion. According to InvestingPro analysis, Crown Holdings appears slightly undervalued based on its Fair Value calculations.
The Ponta Grossa facility, operational since 2011 with two high-speed lines and an annual capacity of 2.4 billion cans, is set to increase its output to 3.6 billion cans upon the completion of this expansion. This will position the Ponta Grossa plant as Crown’s largest operation in Brazil. The company anticipates that the new production line will be operational during the third quarter of 2026.
Crown Holdings has reaffirmed its financial outlook for 2025, projecting around $800 million in adjusted free cash flow and capital expenditures of roughly $450 million.
Crown Holdings, headquartered in Tampa, Florida, is a prominent global supplier of rigid packaging products to consumer marketing companies. It also offers a wide range of transit and protective packaging products, equipment, and services across various end markets.
This expansion is part of Crown Holdings’ ongoing efforts to meet the increasing demand for beverage cans in the region and to strengthen its market position in the packaging industry. The information regarding this expansion is based on a press release statement issued by Crown Holdings, Inc.
In other recent news, Crown Holdings, Inc. has announced its plan to redeem $875 million in 4.750% Senior Notes due 2026, contingent on the successful issuance of $700 million in new 5.875% Senior Notes due 2033. This strategic financial move is detailed in a recent SEC filing and involves Crown Americas LLC and Crown Americas Capital Corp. VI. The issuance of the new notes is a crucial condition for the redemption of the existing notes. In a related development, Crown Holdings has also revealed its intention to offer $500 million in senior unsecured notes, aiming to use the proceeds along with cash on hand to repay the 2026 notes and cover related expenses. This offering will target qualified institutional buyers and non-U.S. persons, as the notes are not registered under the Securities Act. Meanwhile, Crown PropTech Acquisitions, a separate entity, has entered into non-redemption agreements with certain investors to secure approval for extending the deadline to complete a business combination. These agreements involve the assignment of Class B ordinary shares and are designed to maintain funds in the company’s trust account.
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