Silgan Holdings Inc. (NASDAQ: SLGN) was founded in 1987 and is headquartered in Stamford, Connecticut, USA, with 17,000 full-time employees. Together with its subsidiaries, it manufactures and sells rigid packaging products for shelf-stable food and other consumer products worldwide.
Silgan Holdings (SLGN):
Silgan Holdings Inc. is an American manufacturing company located in Connecticut that produces consumer goods packaging in 1987. It was founded by two former executives of Continental Can-Phil Sil ver and Greg Horri gan . The company’s name is taken from their surnames. Through the acquisition of several competing companies and contracts with Del Monte Foods and Nestlé , Silgan Holdings’ market share rose from 10% in 1987 to 36% in 1995. Later acquisitions in the late 1990s and early 2000s left the company with debt problems as pointed out by Forbes and the New York Times. However, until the early 2010s, the company had been profitable.
Silgan Holdings Inc. mainly produces and sells rigid packaging products through its subsidiary companies, and supplies storage-resistant food and other consumer products worldwide. Silgan Holding Company is divided into three divisions to operate: Metal Containers, Closures and Plastic Containers.
- The metal container department , which produces iron and aluminum cans for packaging human and pet food;
- The capping department provides a series of metal, composite plastic and other bottle caps for food and beverages;
- The plastic container department mainly manufactures and designs various containers, plastic tubes, and seals for personal care, food, health products, pharmaceuticals, household and industrial chemicals, pet health products, agrochemicals, automobiles, and marine chemical products.
Silgan Holdings’ product sales are mainly through direct sales, or through distributor networks and online shopping catalogs.
Silgan Holdings (SLGN) History:
- In 1987, the company was founded;
- In 1998, Silgan Holdings acquired a part of the business (assets) of rival Campbell Soup Company for US$150 million; the acquisition caused a surge in the company’s long-term debt, which reached US$700 million as of September 1997;
- In 2003, 100 employees continued to strike to fight for wages and health benefits after the negotiation failed;
- In 2011, Silgan Holdings acquired Graham Packaging for 1.3 billion US dollars;
- In 2011, Silgan Holdings acquired the food can business of the Vienna company Vogel & Noot Holding AG. VN operated 12 food can manufacturing plants in Central and Eastern Europe in 2010, with sales of 250 million euros in 2010;
- In October 2013, Silgan Holdings completed the acquisition of Portola Packaging.