Rexam has reached agreement to acquire a 50% shareholding it does not already own. In 2003, VanCan had sales of US $70 million, of which US$35million was reported in the Rexam 2003 results under turnover of associates. VanCan has one plant located in Queretaro near Mexico City. It started as a greenfield site in 1995 and is now a major supplier to the Mexican beverage market. The plant has two production lines and employs some 140 people. VanCan will continue to be part of the Rexam Beverage Can Americas operation which has 25 plants in North and South America. "This deal represents another step in our commitment to extend our position in growing markets and to deliver increased value for customers," says Stefan Angwald, Rexam's chief executive.
