Crown Holdings
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| Type | Public (NYSE: CCK) S&P 500 Component |
|---|---|
| Industry | Packaging |
| Founded | 1892 |
| Headquarters | Philadelphia, Pennsylvania, U.S. |
| Key people | John W. Conway, Chairman of the board and CEO, Timothy J. Donahue, President and COO, Thomas A. Kelly SVP and CFO |
| Products | Aerosol Packaging, Beverage Packaging, Food Packaging, Metal Closures, and Speciality Packaging |
| Revenue |  US$8.5B (FY 2012)[1] |
| Operating income | US$826M (FY 2010)[2] |
| Net income | US$658M (FY 2012)[1] |
| Total assets | US$7.5B (FY 2012)[1] |
| Total equity | US$ 123M (FY 2012)[1] |
| Employees | 21,900 |
| Website | www.crowncork.com |
Crown Holdings Incorporated, formerly Crown Cork & Seal Company, is an American company that makes food cans. Founded in 1892, it is headquartered in Philadelphia, Pennsylvania and has 149 plants around the world.[3] As of December 2012, Crown is present in 41 counties and employs 21,900 people.[3] It claims to manufacture one out of every five beverage cans used in the world, and one out of every three food cans used in North America and Europe. The company is ranked No. 296 in Fortune 500 list for 2012 and is number one in the packaging and container industry for the same list.[4]
Company history
William Painter, an American of British descent, invented the crown cap for bottled carbonated beverages in 1891, and obtained patents 468.226 and 468.258 for it on February 2, 1892. He founded his own manufacturing business, the Crown Cork and Seal Company, in Baltimore and set out on a campaign to convince bottlers that his cap was the right cap for them to use on their products. By 1898, he had created a foot-powered crowner device to sell to bottlers and retailers so that they could seal the bottles with his caps quickly and easily. This helped to drive acceptance of his bottle caps rather quickly around the world. During the prohibition Crown focused heavily on soft drinks. In 1927 with the entrance of Charles McManus to the institution, Crown Cork and Seal Company, Inc. was changed to Crown Holdings, Inc. International Corporation. The Crowntainer was launched in 1937. [5]
Keeping up with the times and the increasing demand in metal food, beverage, and aerosol packaging, Crown went public under the (NYSE: CCK) in 2003. In 2005 and 2006 Crown exited the plastics industry with the sale of its Global plastic Closure business and the sale of Cosmetics packaging business respectively.[5]
In 2007 Crown launched the Easylift for food cans. The following year it introduced EarthSafe for aerosolpackaging. New technologies were launched in 2010 with Crown's 360 end and in 2011 with the Orbit closure.[5]
External links
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