Sector News

Combination of Exal and Ardagh businesses to form metal packaging producer Trivium

July 17, 2019
Chemical Value Chain

Get involved in the discussion! Click here to comment on this story

Ardagh Group has announced that it has entered into an agreement to combine its Food & Specialty Metal Packaging business with Exal Corporation, a leading producer of aluminium containers, to form ‘Trivium Packaging’.

The move will create one of the largest metal packaging companies in the world. Headquartered in the Netherlands, Trivium will operate 57 production facilities, principally across Europe and the Americas, employing approximately 7,800 people.

Projected revenues and Adjusted EBITDA in the twelve months ended March 31, 2019 were $2.7 billion and $469 million respectively.

The combination of the two businesses aims to combine Food & Specialty’s leading presence in Europe and North America, principally focused on tin-plate steel packaging, with Exal’s leadership in aluminium aerosol packaging in the Americas.

Paul Coulson, currently chairman and CEO of Ardagh, will be chairman of Trivium. Michael Mapes, currently CEO of Exal, will be CEO and will lead an experienced team drawn from across both businesses. Upon completion of the transaction, Ardagh will hold a 43 per cent stake in Trivium, with 57 per cent controlled by Ontario Teachers’. Ardagh will also receive approximately $2.5 billion in cash proceeds.

Completion of the transaction is subject to the satisfaction of customary closing conditions, including receipt of regulatory approvals and confirmation of the participation of certain Ardagh European entities in the transaction, which remains subject to works councils’ consultation. Completion is also subject to closing of the debt financing expected to be announced by Trivium later today. The transaction is expected to close in the fourth quarter of 2019.

By Bryony Andrews

Source: FoodBev

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

November 18, 2019

Aramco IPO values company at $1.62–1.72 trillion

Chemical Value Chain

LinkedIn Twitter FacebookSaudi Aramco on Sunday said it will list a 1.5% stake, or 3 billion shares, on the Tadawul (Riyadh) stock exchange in its initial public offering (IPO). The […]

November 15, 2019

The new era of sustainable supply chains

Chemical Value Chain

LinkedIn Twitter FacebookTo improve sustainability, materials manufacturers are welcoming new digital technologies and process innovations into their global supply chains From palm oil to plastics, the global supply chains of […]

November 14, 2019

Current chems recycling not enough to make significant dent in oil demand – IEA

Chemical Value Chain

LinkedIn Twitter FacebookChemicals recycling technologies that would pave the way for petrochemicals to avoid crude oil as feedstock are still not sufficient to drag down overall demand in coming decades, […]

Subscribe to our Weekly Newsletter

We're easy to reach