STAMFORD, CT, February 19, 2008 -- Silgan Holdings Inc. (Nasdaq:SLGN), a leading supplier
of consumer goods packaging products, announced today that it has entered into a definitive
purchase agreement with Grup Vemsa 1857, S.L. to acquire substantially all of the assets of its
metal vacuum closures business which operates under the names Vem de Tapas Metalica´s in
Spain and Vac Vern in China. The business, which had sales of approximately €20.0 million (or
approximately US $28.7 million at current exchange rates) for the latest twelve months, is
headquartered in Torello, Spain and has manufactung operations in Torello, Spain and
Dongguan, China. The Company expects to continue the manufacturing operations in Torelló,
Spain and will move the assets of the Chinese operation into its existing facility in China. The
transaction is expected to close during the first quarter of 2008, subject to specified closing
conditions. The aggregate purchase price for the assets is €6.8 million (or approximately US $10
milion at current exchange rates), and the transaction is expected to be neutral to earnings in
2008.
"We believe Vem and Vac Vem represent an excellent fit with our closures business," said Bob
Lewis, Silgan's Executive Vice President and Chief Financial Officer. "This acquisition
represents another step toward consolidating the international vacuum closure market. By
combining these businesses, we have strengthened our competitive position in the growing
Southern European and Asian markets," Mr. Lewis concluded.
Silgan Holdings is a leading manufacturer of consumer goods packaging products with annual
net sales of approximately $2.9 bilion in 2007. Silgan operates 68 manufacturing facilities in
North and South America, Europe and Asia. In North America, Silgan is the largest supplier of
metal containers for food products and a leading supplier of plastic containers for personal care
products. In addition, Silgan is a leading worldwide supplier of metal, composite and plastic
vacuum closures for food and beverage products.
Statements included in this press release, which are not historical facts, are forward looking
statements made pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 and the Securities Exchange Act of 1934. Such forward lookig statements
are made based upon management's expectations and beliefs concerning future events impacting
the Company and therefore involve a number of uncertainties and risks, including, but not
limited to, those described in the Company's Annual Report on Form 10-K for 2006 and other
filings with the Securities and Exchange Commission. Therefore, the actual results of operations
or financial condition of the Company could differ materially from those expressed or implied in
such forward looking statements.
Further information can be obtained from:
Petra Bauschke, Marketing Manager
Silgan White Cap Europe/Asia
Hansastraße 4
30419 HANNOVER
Germany
Tel: +49(0)511 7905 4520
Fax: +49(0)511 7905 4512
Email: marketing@silganwhitecap.com
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