Ardagh buys aluminium can producer for EUR 85m

 

 

The acquisition of the Boxal group of companies, which are owned by Exal, will mark Ardagh’s first foray into the European aluminium can market. Ardagh, which makes glass and metal containers for some of the world’s best-known food and consumer products, currently operates an aluminium can business in Australia.

 

 

The Dublin based company will acquire two aluminium can plants in France and the Netherlands as part of the deal, as well as Exal’s share in a slug-making (aluminium stamped disc) joint venture in France, and its Hungarian business, Boxal Hungary.

 

 

Exal, which is retaining its aluminium slug making operation in Switzerland, said the disposal would allow it to expand its presence in Latin America. The company entered the European market in 2004 when it acquired Boxal from Alcan Packaging.

 

 

Ardagh’s acquisition of the Boxal Group is subject to regulatory approval and is expected to be finalised in the first half of this year.

 

 

Ardagh which is controlled by Irish businessman Paul Coulson, confirmed in August that it was to defer its planned flotation on the New York stock exchange due to market volatility. According to a spokesman for the company yesterday, that position still stands.

 

 

Ardagh also indicated in September that it was continuing to look at potential acquisitions.