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Rexam Closure Systems Inc history
Rexam Closure Systems Inc company history timeline
In the United Kingdom, the manufacture of packaging was the leading activity, as it became in the United States following the 1987 acquisition of the Rexham Corporation of North Carolina, specializing in coated and laminated products, for $240 million (£136 million).
In 1992 Bowater acquired DRG Packaging, a maker of food and health-care packaging, for £216 million; and Cope Allman Packaging, a supplier of cosmetics and pharmaceutical packaging, for £235 million.
In May 1995, then, Bowater PLC became Rexam PLC, a moniker concocted, according to the Financial Times, "when chief executive Mr.
In December 1996 a separate subsidiary called Octagon was created that combined about 20 businesses identified as noncore and earmarked for disposal.
With these actions, Rexam took a goodwill writeoff of £254 million during 1996, resulting in a net loss for the year of £238 million.
It also provided Rexam with a much enlarged presence within continental Europe, from which only about 12 percent of revenues had been derived in 1998.
Plastic containers, plastic closures, closures, sifters and fitments 2000
Blackwell, David, and Peter Thal Larsen, "Rexam in Sale of Arm to Berkshire," Financial Times, June 13, 2001.
In July 2001 Rexam sold MiTek to Berkshire Hathaway Inc. for £256 million in cash.
Also in 2003 Rexam elected to sell its medical flexible packaging unit as this was its only flexible packaging business.
In the meantime, on the acquisition front in 2004, Rexam bought glass container makers in Poland and the Netherlands and also bought out its joint venture partners in beverage can plants in the emerging markets of Mexico and China.
Continuing its pursuit of business in emerging markets, Rexam opened its first plastic packaging plant in Poland in July 2006 and one month later announced plans to build new beverage can plants in Russia and Brazil.
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Rexam Closure Systems Inc competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Tree Top | 1960 | $345.0M | 1,008 | 76 |
| Woodstream | 1832 | $250.0M | 440 | 4 |
| Arclin | - | $750.0M | 370 | 62 |
| Minnesota Rubber & Plastics | 1945 | $126.6M | 1,100 | - |
| Balchem | 1967 | $953.7M | 1,342 | 37 |
| Daisy Brand | 1917 | $260.0M | 750 | 2 |
| Eagle Ottawa | 1865 | - | 10,002 | - |
| GT Advanced Technologies | 1994 | $240,000 | 6 | - |
| Toray Plastics | 1985 | $17.9B | 750 | 9 |
| Tredegar | 1988 | $597.1M | 2,801 | 37 |
Rexam Closure Systems Inc history FAQs
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