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Rexam gains Mexican packaging plant

Executive Summary

UK-based firm with vision "to be the leading global consumer packaging company" - it currently is No. 2 - assumes ownership of plastic packaging injection and extrusion blow-molded manufacturing plant in Tlalnepantla, Mexico City with purchase of remaining 50% interest in joint venture between it and Pavisa Industries. Consistent with the company's goal of building its presence in emerging markets, "Rexam will be utilizing the plant to exploit growth for plastic packaging across the healthcare, closures and personal-care industries in the Mexico and Latin American markets," according to Feb. 24 announcement. The Mexico City facility has more than 300 employees, Rexam says, and produces plastic for the pharmaceutical and diagnostic industries as well as for firms needing cases for lipsticks, mascaras and compacts and dispensing solutions for perfumes, lotions and foams. Firm reported Feb. 19 that its fiscal 2008 full-year sales totaled $6.54 bil., up 28% from 2007 including the benefit of recent acquisitions and foreign currency exchange
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