The three plastics acquisition added £119 million to sales and £12 million in operating profit to the first half of 2006. Going forward, Rexam plans to sell nonbarrier thin-wall plastics operations, which include one plant in the U.K and two in Scandinavia. The company reports interest in these businesses and doesn''t anticipate any problems in their sale. Rexam already closed four former Precise plants in the U.S. tied to the medical market.
The company is also tapping a growing Indian market, forming a joint venture in the first half of the year with Hindustan Tin Works to make beverage cans in India. It has also acquired Truepack for £5 million, a plastic pharmaceutical packaging company in Bangalore, India (e-Weekly August 21-25). Rexam has also introduced high-barrier food container production in Europe and built a dispensing systems plant in Tournus, France.