Plastic packaging

Rexam, the packaging group and beverage can maker, is to acquire US-based Delta Plastics for $154m (£83m) in cash.

Delta Plastics is based in Hot Springs, Arkansas, where it designs and manufactures plastic injection-moulded jars and closures for a variety of applications, primarily for the personal care and food markets.

The operation, which employs more than 350 people, comprises two injection-moulding facilities in Hot Springs. It also has a technology centre, located near Los Angeles, California, which designs, develops and manufactures Delta Plastics' own moulds and automation equipment.

Delta Plastics has grown at a rate well above the market during the past five years. In 2004, it reported sales of $50m.