LONDON (Alliance News) - Rexam PLC on Thursday said it has completed a joint investment in Envases Del Istmo SA, a single-line beverage can plant based in Colón in Panama.
Rexam has invested in the company alongside Envases Universales de Mexico.
Rexam said long-term supply agreements for the plant have been agreed with SABMiller PLC and Florida Ice & Farm Company SA.
The FTSE 250-listed can maker did not provide any financial information on the investment.
"We are pleased to have jointly acquired the Endelis business in Panama and expanded our relationship with Envases Universales de Mexico," said Rexam Chief Executive Graham Chipchase.
"It is fully in line with our emerging markets strategy and complements our existing Central America footprint. The transaction positions us well to serve both our local and global customers in an exciting growth region," Chipchase added.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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