Polish aluminum packaging firm Canpack Group is investing around $380mn on a new three-line aluminum can manufacturing plant in Muncie, Indiana.
It aims to commission the facility by Q4 2022 and will spend $104mn on adding a fourth line at its Olyphant, Pennsylvania plant.
In Q1 2021, Canpack produced 6.1bn can bodies across its plants, up by 21pc from the same period last year. In the same timeframe under comparison, net sales amounted to $664mn, also growing by 21pc. For the quarter, the company posted a 12pc rise in its adjusted EBITDA to $127mn from $113mn.
To meet the increasing demand for aluminum beverage cans from US consumers, Canpack set up its first US plant in Olyphant, which is expected to begin production in Q4 2021. After seeing much larger-than-expected demand, the company decided to invest in a second plant and expand the first.