PRESS RELEASE

11 November 2009

Sale of Rexam Petainer business completed

Rexam, the global consumer packaging company, today completed the sale of its specialist PET container business, Petainer. The business, which has been held for sale for some time, has been acquired by Next Wave and WHEB Ventures for £16m in cash.  Petainer reported EBIT of £5m in the first half of 2009 (2008 full year: £3m), and the estimated exceptional loss on disposal will be some £9m.

 

The net proceeds will be used to pay down debt.

Enquiries       

Rexam

David Robbie, Finance Director                       +44 20 7227 4100

Sandra Moura, Head of Investor Relations  

          

Financial Dynamics 

Richard Mountain                                                +44 20 7269 7291

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