Ardagh Group, a Luxembourg-based producer of glass and metal containers, has reportedly agreed to combine its good and speciality metal packaging business with one of the world’s largest extruded aluminium containers producers Exal Corporation.
As per the report, they will together form a new metal packaging company Trivium Packaging, which will be one of the world’s largest metal packaging companies.
Trivium will be headquartered in the Netherlands and will employ about 7,800 people for its 57 production facilities, mainly in Europe and America.
Ardagh said Trivium would serve a diverse range of multinational and regional customers operating in a wide array of end markets like food (sea food and pet food), nutrition, beauty and personal care, household care, and premium beverages.
Paul Coulson, chairman and chief executive of Ardagh, will be the chairman of Trivium and Michael Mapes, CEO of Exal, will be the CEO.
Reportedly, Ardagh will hold a 43 per cent stake in Trivium and will receive approximately $2.5 billion in cash proceeds. This deal, which is still subject to regulatory approval, is expected to close in the fourth quarter of 2019.
Paul Coulson said, “Trivium will have the products, customers, innovation capabilities and leadership team to deliver continued growth and success, as brand owners and consumers increasingly seek sustainable packaging solutions.”
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