Rexam plc chairman Jeremy Lancaster was positive in his assessment of the group's performance in2002 and the prospects for 2003 during the annual general shareholder meeting in May 2003. The chairman said "Following a highly successful performance last year, Rexam continues to trade well in 2003 and we anticipate that we shall meet expectations for the full year, albeit with a stronger performance in the second half than the first." On a more cautions note, he said that EU beverage can volumes had been affected by the deposit on non-returnable drinks containers in Germany but seasonal demand and the introduction of a national recovery and recycling system were expected to improve the situation. On 1 Jan/03, Germany introduced a law which imposes refundable deposits on beer, mineral water and sodas sold in cans and non-refillable plastic bottles.
