Crown Cork & Seal Company, Inc

: Crown Cork & Seal Company, Inc.

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Company Perspectives:

We owe our success to a legacy of leadership and invention that began in 1892 when our founder, William Painter, invented a better way to package soft drinks and beer. Painter's vision revolutionized the bottling industry. His ingenuity, and the leadership of those who came after him, helped to build Crown Cork & Seal into the world-class company it is today.

Key Dates:

1892: William Painter invents the 'crown cork,' and soon

1927: Company is incorporated in New York City as Crown Cork

1936: Acme Can Company is purchased, marking entry into can

1957: John F. Connelly takes over presidency and turns the

1958: Company moves its corporate headquarters to

1962: Company spends $121 million on a capital improvement

1970: R. Hoe & Company, a metal decorating firm, is

1977: Net sales reach $1 billion.

1989: William J. Avery takes over company leadership.

1989-91:Continental Can's Canadian, U.S., and overseas plants are

1992: Company pays $519 million for CONSTAR International,

1993: Cleveland-based Van Dorn Company, a maker of metal,

1996: $5.2 billion acquisition of France's

Type: Public Company

Address: One Crown Way, Philadelphia, Pennsylvania 19154-4599, U.S.A.

Telephone: (215) 698-5100

Toll Free: 800-523-3644

Fax: (215) 698-5201

Web: http://www.crowncork.com

Employees: 38,459

Sales: $8.30 billion (1998)

Stock Exchanges: New York Paris

Ticker Symbol: CCK

Incorporated: 1927

NAIC: 322214 Fiber Can, Tube, Drum, and Similar Products

SIC: 2655 Fiber Cans, Drums & Similar Products; 3085 Plastics Bottles; 3466 Crowns & Closures; 3469 Metal Stampings Nec; 3411 Metal Cans; 3412 Metal Barrels, Drums & Pails

Crown Cork & Seal Company, Inc. is one of the world's leading packaging manufacturers, making one out of every five beverage cans used in the world and one out of every three food cans used in North America and Europe. In addition to making metal food and beverage cans, Crown Cork also produces other metal packaging, including aerosol cans, specialty packaging, can ends, and closures and crowns. The company also makes plastic containers for beverages, food, household and industrial products, personal care products, cosmetics and fragrances, and medical and pharmaceutical products; composite packaging, such as that used for frozen juice concentrate; and can making equipment. With 223 plants located in 49 countries, Crown Cork derives about 60 percent of its revenues from outside the United States, with almost three-fourths of non-U.S. revenues derived in Europe. The company's position as a global packaging powerhouse was largely gained through an aggressive program of acquisition launched in 1989, which increased net sales from $1.9 billion to $8.3 billion by the late 1990s.

The company traces its origins to 1892 when William Painter invented the 'crown cork,' a metal crown used to package soft drinks and beer in bottles. Painter soon started the Crown Cork & Seal Company of Baltimore. He quickly expanded the company overseas and by the time of his death in 1906 the company had manufacturing operations in Germany, France, the United Kingdom, Japan, and Brazil. After recovering from the disruptions of World War I, Crown Cork survived the Prohibition era by shifting its production from beer to soft drinks.

In 1927 the company was incorporated in New York City as Crown Cork & Seal Company, Inc. following its merger with