Kiwiplan is engaged in providing manufacturing execution systems, logistics planning, and analytical software for corrugated packaging manufacturing operations

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Kiwiplan business reported revenue of $39m and EBITDA of $10m in 2021. (Credit: StockSnap from Pixabay)

Metal beverage and food cans maker Crown Holdings has agreed to divest the Transit Packaging segment’s Kiwiplan business for about $182m.

Kiwiplan is headquartered in Cincinnati, Ohio with a software development centre in Auckland, New Zealand.

It provides manufacturing execution systems, logistics planning, and analytical software for corrugated packaging manufacturing operations. The business reported revenue of $39m and EBITDA of $10m last year.

The transaction is expected to close in the second quarter of 2022, subject to customary closing conditions.

The packing company has made the announcement to sell its Kiwiplan business during the announcement of first-quarter 2022 results

Crown Holdings has reported a net income of $216m for the first quarter ended 31 March 2022, compared to $211m in the same quarter of 2021.

The company reported net sales of $3.1bn for the first quarter of 2022, compared to $2.5bn in the same period of 2021.

In a separate development, Crown Holdings announced that it will build a new high-speed aluminium line at its beverage can facility in Agoncillo, Spain.

The new is expected to commence commercial operations in the first quarter of 2023, and the additional capacity will cater to expanding customer needs in Northern Spain.

Apart from the Agoncillo facility, the company operates aluminium beverage can plants in Valencia, which commenced operations in 2018, and Seville, which completed a conversion from steel to aluminium in 2020.