Crown Cork & Seal and Enterprise Investors to work together in Poland’s metal packaging sector

Our common aim is to consolidate our leading position in the market by developing a modern, customer-focused organization that will enable us to offer our clients more competitive products,’ said Ian Richards, business director and Head of CarnaudMetalbox Food Central & Eastern Europe, whose regional head office is located near Budapest, Hungary.

Both companies are leading producers of a wide range of metal containers and closures for the domestic food-processing sector and have been privatized during the past three years. The common investment program assumes completion of the construction of a plant which will produce a full range of steel and aluminum cans and will be located in Pruszcz Gdański.

‘This undertaking is an important step for FOB – we look forward to working together with a partner of world renown and see opportunities for further growth in Poland and the region,’ said Jacek Siwicki, managing partner of Enterprise Investors.

Crown Cork & Seal Company Inc. is the world’s largest consumer packaging company. Group sales in 1999 were $7.7 billion.

Enterprise Investors is the leading venture capital/private equity management firm active in Poland and the CEE region. Since 1990 the funds managed by EI have invested $520 million in 70 Polish companies representing different sectors of the economy. EI is currently in the process of raising a new fund with a capital of $300 million. The new fund will invest in Poland and the other CEE countries.

CarnaudMetalbox-Gopak Polska Sp. z o.o., located in Goleniów, produces cans and twist-off closures for the food processing industry, and crowns for the beverage industry.

Fabryka Opakowań Blaszanych Sp. z o.o., located in Gdańsk, is Poland’s second largest producer of cans for the food processing industry. Funds managed by EI privatized the company in May 1997 and have implemented a restructuring and re-equipment program in the company.