We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Crown Holdings (CCK) Expands Capacity in Brazil to Meet Demand
Read MoreHide Full Article
Crown Holdings, Inc. (CCK - Free Report) recently announced that its Brazilian subsidiary CROWN Embalagens S.A. is building its sixth facility in Brazil to meet escalating demand for beer and soft drink cans in the region. When fully operational, the new plant will produce 2.4 billion cans annually and will boost the company’s annual production capacity in Brazil to 13.3 billion cans.
The new plant, located in Minas Gerais State, southeast Brazil, will produce two-piece aluminum cans in multiple sizes. The first line is expected to commence production in second-quarter 2022, with the second line slated to start in fourth-quarter 2022.
Given its many inherent benefits, including being infinitely recyclable and sustainable, the beverage can is becoming the increasingly preferred package for marketers and consumers globally. Mexico and Brazil have experienced higher growth rates due to rising per capita income and consequent rise in beverage consumption combined with an increased preference for cans over other packaging formats. Operating since 1942 in Brazil, Crown Holdings has built a strong presence in the country. The company currently has two-piece aluminum beverage can plants in Cabreúva (São Paulo State), Estância (Sergipe State), Ponta Grossa (Paraná State), Rio Verde (Goiás State), Teresina (Piaui State) and a beverage end plant in Manaus (Amazonas State).
Crown Holdings has been implementing several beverage-can capacity-expansion projects in a bid to meet the surging beverage-can demand. In 2020, the company commercialized more than 2 billion units of annual capacity across the Americas Beverage businesses, and intends to add more than 4.5 billion units of annual production capacity in 2021.
Construction is underway at a new state-of-the-art beverage can facility in Bowling Green, KY, which is expected to start in second-quarter 2021. The company announced that it will add a second line to that facility, which will come online in late third-quarter 2021. To meet the expanding requirements of specialty cans in the Pacific Northwest, the company will construct a third line in the Olympia, WA plant, which is scheduled to commence production during third-quarter 2021. The company will add a second line in its recently-constructed facility in Rio Verde in Brazil, which is expected to start operations in third-quarter 2021.
While investing in its business, Crown Holdings remains focused on cost control and capital allocation. The company is also committed to maintaining strong liquidity position and a sound capital structure.
Share Price Performance
Shares of the company have gained 27.7% over the past year compared with the industry’s rally of 28.7%.
Zacks Rank & Other Stocks to Consider
Crown Holdings currently carries a Zacks Rank #2 (Buy).
AGCO has an estimated earnings growth rate of 21% for the ongoing year. Shares of the company have gained 55% in a year’s time.
Deere has an expected earnings growth rate of 51% for fiscal 2021. The stock has appreciated 68% in the past year.
Avery Dennison has a projected earnings growth rate of 6% for the current year. Over the past year, the company’s shares have rallied 19%.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
Image: Bigstock
Crown Holdings (CCK) Expands Capacity in Brazil to Meet Demand
Crown Holdings, Inc. (CCK - Free Report) recently announced that its Brazilian subsidiary CROWN Embalagens S.A. is building its sixth facility in Brazil to meet escalating demand for beer and soft drink cans in the region. When fully operational, the new plant will produce 2.4 billion cans annually and will boost the company’s annual production capacity in Brazil to 13.3 billion cans.
The new plant, located in Minas Gerais State, southeast Brazil, will produce two-piece aluminum cans in multiple sizes. The first line is expected to commence production in second-quarter 2022, with the second line slated to start in fourth-quarter 2022.
Given its many inherent benefits, including being infinitely recyclable and sustainable, the beverage can is becoming the increasingly preferred package for marketers and consumers globally. Mexico and Brazil have experienced higher growth rates due to rising per capita income and consequent rise in beverage consumption combined with an increased preference for cans over other packaging formats. Operating since 1942 in Brazil, Crown Holdings has built a strong presence in the country. The company currently has two-piece aluminum beverage can plants in Cabreúva (São Paulo State), Estância (Sergipe State), Ponta Grossa (Paraná State), Rio Verde (Goiás State), Teresina (Piaui State) and a beverage end plant in Manaus (Amazonas State).
Crown Holdings has been implementing several beverage-can capacity-expansion projects in a bid to meet the surging beverage-can demand. In 2020, the company commercialized more than 2 billion units of annual capacity across the Americas Beverage businesses, and intends to add more than 4.5 billion units of annual production capacity in 2021.
Construction is underway at a new state-of-the-art beverage can facility in Bowling Green, KY, which is expected to start in second-quarter 2021. The company announced that it will add a second line to that facility, which will come online in late third-quarter 2021. To meet the expanding requirements of specialty cans in the Pacific Northwest, the company will construct a third line in the Olympia, WA plant, which is scheduled to commence production during third-quarter 2021. The company will add a second line in its recently-constructed facility in Rio Verde in Brazil, which is expected to start operations in third-quarter 2021.
While investing in its business, Crown Holdings remains focused on cost control and capital allocation. The company is also committed to maintaining strong liquidity position and a sound capital structure.
Share Price Performance
Shares of the company have gained 27.7% over the past year compared with the industry’s rally of 28.7%.
Zacks Rank & Other Stocks to Consider
Crown Holdings currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the Industrial Products sector include AGCO Corporation (AGCO - Free Report) , Deere & Company (DE - Free Report) and Avery Dennison Corporation (AVY - Free Report) . While AGCO and Deere flaunt a Zacks Rank #1 (Strong Buy), Avery carries a Zacks Rank of 2, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
AGCO has an estimated earnings growth rate of 21% for the ongoing year. Shares of the company have gained 55% in a year’s time.
Deere has an expected earnings growth rate of 51% for fiscal 2021. The stock has appreciated 68% in the past year.
Avery Dennison has a projected earnings growth rate of 6% for the current year. Over the past year, the company’s shares have rallied 19%.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>