May 6-Rexam, the can and plastic packaging major, said its first quarter results were ahead of its expectations. Its Interim Management Statement, which coincides with its AGM, did not reveal figures.
The UK-headquartered group said that in its plastic packaging business, volumes in personal care are showing some signs of recovery and performance in healthcare was broadly stable versus last year despite increased pricing pressures .
However, closures have continued to decline due to weak demand for carbonated soft drink and bottled water closures.
It said its cost cutting programme in plastics is on track to deliver 24m year on year savings in 2010. The programme involves plans to close and consolidate eight plants and reduce the workforce by approximately 10%.
Overall, our trading outlook for Plastic Packaging remains unchanged, it said.
The UK-headquartered group said that in its plastic packaging business, volumes in personal care are showing some signs of recovery and performance in healthcare was broadly stable versus last year despite increased pricing pressures .
However, closures have continued to decline due to weak demand for carbonated soft drink and bottled water closures.
It said its cost cutting programme in plastics is on track to deliver 24m year on year savings in 2010. The programme involves plans to close and consolidate eight plants and reduce the workforce by approximately 10%.
Overall, our trading outlook for Plastic Packaging remains unchanged, it said.
