Ardagh Group’s record investment of $1.8 billion

Despite the uncertainty of the medium- and long-term effects of covid-19, some plan to expand their businesses. This is the case of Ardagh Group, man­ufacturer of glass and aluminum packaging, which aims to invest $1.8 billion (1.5 billion euros) over the next four years, mainly in the expansion of its beverage can business. That’s how the Irish Times released it.

The Irish group’s investment plan aims to “take advantage of an expanding international market for canned energy drinks, flavored beverages and craft beer,” the newspaper notes, a change that is also caused by the migration being given from plastic.

The investment announcement, explains the Irish medium, came when Ardagh, which manufactures beverage packag­ing for brands such as Budweiser or Coca-Cola, to name a few well-known companies, reported increases in sales and profits in the third quarter of 2020 compared to the same period in 2019, as it benefited from a reopening of Western economies following widespread blockades in early 2020.

“Revenue increased by 4%, to $1.8 billion, also helped by favor­able exchange movements, while earnings before interest, tax­es, depreciation and amortization grew by 3%, to $330 million.”

According to its chairman and shareholder, Paul Coulson, “the group performed very well in the quarter in a challenging op­erating environment, with continued strong growth in met­al beverage packaging and resumed volume growth in glass packaging, as channels were re-opened at the facility,” said Coulson, president, CEO and cash 33 percent shareholders of Ardagh.