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To: Softechie who started this subject	12/14/2001 1:23:27 AM
From: Softechie	of 2155

Crown Cork & Seal to sell fragrance pump unit PHILADELPHIA, Dec 13 (Reuters) - Consumer packaging company Crown Cork & Seal Co. Inc. (NYSE:CCK - news) said on Thursday it has agreed to sell its fragrance pump manufacturing business to Rexam PLC for about $107 million and will use the proceeds to reduce short-term debt. The Thomaston, Connecticut, pump manufacturing plant, one of nine facilities operated by Crown's Risdon-AMS cosmetics packaging subsidiary, employs about 300 people, Crown said. The primary products manufactured at the plant consist of a line of fine mist spray actuated pumps used in personal fragrance applications. For the year ended Oct. 31, total revenues for the business were about $55 million and EBITDA was about $16 million. Crown said it expects to complete the sale of the business following necessary regulatory approvals. It was advised by Salomon Smith Barney.

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