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Fragrance pump business sold

This article was originally published in The Rose Sheet

Executive Summary

Crown Cork & Seal signed agreement to sell Thomaston, Conn.-based fragrance pump manufacturing business to Rexam for approximately $107 mil., packaging supplier announces. Proceeds from sale will be used to reduce outstanding short-term debt. Primary products manufactured at the plant are fine mist spray actuated pumps used in personal fragrance applications, company notes. Crown Cork & Seal will continue to manufacture molded and assembled plastic and metal packaging for lipstick, lip gloss, mascara, compacts and fragrance caps, company adds. For London-based Rexam, agreement is in line with consumer products packaging company's strategic focus on beauty, healthcare, beverage and food industries...
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