Rexam sees challenges in Europe, North America in 2014

Thu Nov 14, 2013 3:30am EST

Nov 14 (Reuters) - Beverage-can maker Rexam Plc said third-quarter global beverage cans volume rose 3 percent, helped by a hot summer in Western Europe, but the gain was partially offset by weakness in Russia, Egypt and Turkey.

Rexam, which counts Coca-Cola, PepsiCo, Red Bull and Heineken among its customers, said it sees challenges in Europe, North America in 2014.

"Looking into next year, while we anticipate some volume growth, we will have to contend with the difficult macroeconomic backdrop in Europe, the impact of a maturing specialty can market in North America," the company said in a statement.

The company said it expects emerging markets such as Brazil and India to perform well in 2014.

Rexam expects to announce an agreed price for the sale of its healthcare business by the year end or early next year, Chief Executive Graham Chipchase told Reuters.

Rexam, which competes with U.S-listed Ball Corp and Crown Holdings, is the only beverage-can maker listed in the United Kingdom.

Shares in the company were down 2 percent at 507 pence at 0829 GMT on the London Stock Exchange.

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