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Crown reports decline in Q2 net sales

Crown has reported a decrease in net sales in the second quarter of 2012 to $2.1bn when compared to $2.2bn in the second quarter of 2011 and gross profit stood at $340m against $371m in 2011.

For the first six months of 2012 net sales stood at $4.13bn compared to $4.16bn in the same period of 2011 and gross profit decreased to $627m compared to $663m in 2011.

During the quarter, new beverage can plants were commercialized by Crown in Ziyang, China and Osmaniye, Turkey and the expansion of the company’s Ho Chi Minh City, Vietnam plant was completed.

In May 2012, the company announced a new beverage can plant in Sihanoukville, Cambodia which is set to be operational in the 2013 third quarter.

Crown chairman and chief executive officer John Conway said that the company continues to perform well in the Americas and Asia.

"All of these projects are to meet customer demand in these growing markets. Equally important, we are committed to the conservative deployment of capital and remain focused on the opportunities and challenges in our markets around the world," Conway said.