SOURCE: CCL Industries Inc.

CCL Industries Inc.

February 26, 2015 08:30 ET

CCL Industries Reports Record Fourth Quarter and 2014 Results

TORONTO,ON--(Marketwired - February 26, 2015) - CCL Industries Inc. (TSX: CCL.A) (TSX: CCL.B)

Fourth-Quarter Highlights

  • Adjusted basic earnings per share(3) of $1.51, up 26.9%,
    basic earnings per share of $1.33, up 129.3%
  • 13.4% operating income margin(1), up 0.5% year-over-year
  • CCL Label organic sales growth of 5.9%
  • Board approves 25% increase to first quarter 2015 dividend.  Annual dividend is $1.50 per class B share for 2015 compared to $1.00 at March 2014

2014 Highlights

  • Adjusted basic earnings per share(3) of $6.53, up 47.4%,
    basic earnings per share of $6.31, up 107.6%
  • Avery delivers $109 million operating income(1)
  • CCL Label delivers 6.5% organic sales growth and 21.0% EBITDA margin(2)
  • Free cash flow(5) $264 million, 122% earnings conversion
  • 20% return on equity(6) hurdle reached for the first time

CCL Industries Inc. ("CCL" or "the Company"), a world leader in specialty label and packaging solutions for global corporations, small businesses and consumers, today reported fourth quarter and annual financial results for 2014.

Sales for the fourth quarter of 2014 increased 14.0% to $635.8 million, compared to $557.7 million for the fourth quarter of 2013, with 2.8% organic growth, 4.4% positive currency translation impact and the balance primarily from the 2014 acquisitions of Sancoa, Dekopak and Bandfix. 

Operating income (a non-IFRS measure; see note 1 below) for the fourth quarter of 2014 was $85.0 million, an increase of 17.7% compared to $72.2 million for the comparable quarter of 2013. Excluding the impact of currency translation operating income improved 13.5%.

Restructuring and other expenses totalled $7.1 million for fourth quarter of 2014, representing the final activities related to the Avery restructuring plan as well as other costs to close and consolidate smaller plants within the Label Segment. Restructuring and other expenses for Avery and the reorganization of the Canadian Container operation totalled $24.2 million for the final quarter of 2013.

Net earnings improved 133.8% to $45.6 million for the 2014 fourth quarter compared to $19.5 million in the 2013 fourth quarter. Basic and adjusted basic earnings (a non-IFRS measure; see note 3 below) were $1.33 and $1.51 per share, respectively, compared to basic and adjusted basic earnings of $0.58 and $1.19 per share in the prior year fourth quarter.

For the full year 2014 sales, operating income and net earnings improved 36.8%, 46.7% and 109.1%, respectively, compared to 2013. 2014 included results from eight acquisitions completed since January 1, 2013, most notably the July 1, 2013 acquisition of Avery and DES. Organic sales growth of 3.8% delivered solid underlying profit improvement and foreign currency translation added $0.33 per share. For 2014 adjusted basic earnings was a record $6.53 per share compared to $4.43 per share in 2013.

Geoffrey T. Martin, President and Chief Executive Officer, commented, "Robust results for the fourth quarter completed a record year for CCL with earnings exceeding $200 million for the first time. The stronger U.S. dollar benefitted profit translation in the quarter but this largely corresponded to translation and transaction declines in Europe and Emerging Markets. We are pleased with 2014's performance as CCL Label delivered solid sales and profit gains, Avery significantly exceeded expectations, especially in the important label category, and results at CCL Container were steady."

Mr. Martin concluded, "Record free cash flow financed five strategic acquisitions, capital expenditures and debt repayments in 2014. The Company's leverage ratio(4) improved to 0.9 times EBITDA(2) leaving considerable capacity to execute growth plans for 2015 and beyond. Given CCL's financial transformation in 2014, the Board of Directors declared a further 25% increase in the dividend to $0.375 per Class B non-voting share and $0.3625 per Class A voting share, payable to shareholders of record at the close of business on March 17, 2015, to be paid on March 31, 2015. The annualized dividend now stands at $1.50 per class B non-voting share compared to an annual rate of $1.00 for the first two quarters of 2014, an increase of 50%."

Fourth Quarter and 2014 Segment Highlights

CCL Label

  • Sales for the fourth quarter increased to $433 million, up organically 5.9% and 6.5% overall for 2014 to $1.72 billion; acquisitions and currency translation the balance.
  • Fourth quarter organic sales growth: high single digits in Europe, mid-single digits in North America; Emerging Markets mixed: low double digits in Latin America, low single digits in Asia Pacific.
  • Operating income margin up 100 basis points to 13.4% for the fourth quarter and down 40 basis points to 14.1% for 2014 on acquisition mix, underlying margin up. Strong fourth quarter in North America overall and Food & Beverage sector globally; Emerging Markets held in check by currency, slower growth and start-up costs.
  • Joint ventures added 6 cents earnings per share in the fourth quarter.
  • $5 million fourth quarter restructuring charge to consolidate a number of small, sub-optimal operations.

Avery

  • Sales increased 0.5% to $155 million for the fourth quarter, with 5.9% organic decline offset largely by foreign exchange translation. 2014 sales were $666 million.
  • Further restriction of year end customer pre-buys and the strong U.S. dollar impact on imports to Canada resulted in modest fourth quarter operating income decline to $23 million; results exceeded expectations at $109 million for 2014.
  • $1.4 million final post acquisition restructuring in the quarter, largely in Europe.

CCL Container

  • 8.7% organic growth on strong demand in Mexico drove fourth quarter sales to $48 million. Sales for 2014 were up 1.9% organically on soft HPC markets to $201 million.
  • Strong U.S. dollar boosted profits on sales produced in Canada partly offset by the reverse effect on aluminum imports in Mexico. Operating income up 37% to $4 million for the fourth quarter and up 8.5% for the year to $18 million.
  • Capacity consolidation project now not expected to complete before 2016.

CCL will hold a conference call at 1:30 p.m. EST on February 26, 2015, to discuss these results. The analyst presentation will be posted on the Company's website. 

To access this call, please dial:

416-340-8530 - Local
1-800-769-8320 - Toll Free

Forward-looking Statements

This press release contains forward-looking information and forward-looking statements (hereinafter collectively referred to as "forward-looking statements"), as defined under applicable securities laws, that involve a number of risks and uncertainties. Forward-looking statements include all statements that are predictive in nature or depend on future events or conditions. Forward-looking statements are typically identified by the words "believes," "expects," "anticipates," "estimates," "intends," "plans" or similar expressions. Statements regarding the operations, business, financial condition, priorities, ongoing objectives, strategies and outlook of the Company, other than statements of historical fact, are forward-looking statements. Specifically, this press release contains forward-looking statements regarding the anticipated growth in sales, income and profitability of the Company's segments; and the Company's expectations regarding general business and economic conditions.

Forward-looking statements are not guarantees of future performance. They involve known and unknown risks and uncertainties relating to future events and conditions including, but not limited to, the after-effects of the global financial crisis and its impact on the world economy and capital markets; the impact of competition; consumer confidence and spending preferences; general economic and geopolitical conditions; currency exchange rates; interest rates and credit availability; technological change; changes in government regulations; risks associated with operating and product hazards; and CCL's ability to attract and retain qualified employees. Do not unduly rely on forward-looking statements as the Company's actual results could differ materially from those anticipated in these forward-looking statements. Forward-looking statements are also based on a number of assumptions, which may prove to be incorrect, including, but not limited to, assumptions about the following: global economic recovery and higher consumer spending; improved customer demand for the Company's products; continued historical growth trends, market growth in specific sectors and entering into new sectors; the Company's ability to provide a wide range of products to multinational customers on a global basis; the benefits of the Company's focused strategies and operational approach; the achievement of the Company's plans for improved efficiency and lower costs, including stable aluminum costs; the availability of cash and credit; fluctuations of currency exchange rates; the Company's continued relations with its customers; general business and economic conditions. Should one or more risks materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward-looking statements. Further details on key risks can be found in the 2013 Management's Discussion and Analysis, particularly under Section 4: "Risks and Uncertainties." CCL's annual and quarterly reports can be found online at www.cclind.com and www.sedar.com or are available upon request.

Except as otherwise indicated, forward-looking statements do not take into account the effect that transactions or non-recurring or other special items announced or occurring after the statements are made may have on CCL's business. Such statements do not, unless otherwise specified by the Company, reflect the impact of dispositions, sales of assets, monetizations, mergers, acquisitions, other business combinations or transactions, asset write-downs or other charges announced or occurring after forward-looking statements are made. The financial impact of these transactions and non-recurring and other special items can be complex and depends on the facts particular to each of them and therefore cannot be described in a meaningful way in advance of knowing specific facts. The forward-looking statements are provided as of the date of this press release and the Company does not assume any obligation to update or revise the forward-looking statements to reflect new events or circumstances, except as required by law.

The financial information presented herein has been prepared on the basis of IFRS for financial statements and is expressed in Canadian dollars unless otherwise stated.

Financial Information

CCL Industries Inc.
Consolidated statements of financial position
Unaudited

     
In thousands of Canadian dollars
 As at
December 31
 As at
December 31
   2014  2013
Assets          
Current assets          
 Cash and cash equivalents  $ 221,873  $ 209,095
 Trade and other receivables    380,965    363,493
 Inventories    192,286    181,644
 Prepaid expenses    14,949    13,458
 Income taxes recoverable    11,810    2,503
Total current assets    821,883    770,193
Non-current assets          
 Property, plant and equipment    925,512    856,001
 Goodwill    563,730    494,231
 Intangible assets    226,567    207,569
 Deferred tax assets    4,183    4,115
 Equity accounted investments    54,652    47,363
 Other assets    21,848    22,176
Total non-current assets    1,796,492    1,631,455
Total assets  $ 2,618,375  $ 2,401,648
Liabilities          
Current liabilities          
 Trade and other payables  $ 519,440  $ 475,777
 Current portion of long-term debt    59,058    47,070
 Income taxes payable    21,419    21,060
 Derivative instruments    280    642
Total current liabilities    600,197    544,549
Non-current liabilities          
 Long-term debt    600,011    664,976
 Deferred tax liabilities    43,453    42,661
 Employee benefits    138,594    109,068
 Provisions and other long-term liabilities    19,413    21,511
 Derivative instruments    488    748
Total non-current liabilities    801,959    838,964
Total liabilities    1,402,156    1,383,513
           
Equity          
 Share capital    248,087    237,189
 Contributed surplus    26,241    11,919
 Retained earnings    938,526    768,738
 Accumulated other comprehensive income    3,365    289
Total equity attributable to shareholders of the Company    1,216,219    1,018,135
Total liabilities and equity  $ 2,618,375  $ 2,401,648
       
       

CCL Industries Inc.
Consolidated income statements
Unaudited

          
   Three months ended
December 31
  Years ended
December 31
 
                      
In thousands of Canadian dollars, except per share information  2014   2013   2014   2013  
                      
Sales  $ 635,844   $ 557,723   $ 2,585,637   $ 1,889,426  
Cost of sales    464,340     412,529     1,891,506     1,413,991  
Gross profit    171,504     145,194     694,131     475,435  
Selling, general and administrative expenses   96,436     82,722     358,962     256,740  
Restructuring and other items    7,063     24,204     9,104     45,248  
Earnings in equity accounted investments    (2,126 )   (778 )   (3,686 )   (1,870 )
     70,131     39,046     329,751     175,317  
Finance cost    6,490     6,991     26,705     26,290  
Finance income    (449 )   (195 )   (1,152 )   (642 )
Net finance cost    6,041     6,796     25,553     25,648  
Earnings before income tax    64,090     32,250     304,198     149,669  
Income tax expense    18,496     12,727     87,632     46,081  
Net earnings  $ 45,594   $ 19,523   $ 216,566   $ 103,588  
Attributable to:                         
 Shareholders of the Company  $ 45,594   $ 19,523   $ 216,566   $ 103,588  
Net earnings  $ 45,594   $ 19,523   $ 216,566   $ 103,588  
Earnings per share                         
Basic earnings per Class B share  $ 1.33   $ 0.58   $ 6.31   $ 3.04  
Diluted earnings per Class B share  $ 1.31   $ 0.57   $ 6.19   $ 2.99  
                          
                 
                 

CCL Industries Inc.
Consolidated statements of cash flows
Unaudited

Years ended December 31     
      
          
In thousands of Canadian dollars  2014   2013  
          
Cash provided by (used for)         
          
Operating activities         
              
Net earnings  $ 216,566   $ 103,588  
              
Adjustments for:             
 Depreciation and amortization    146,421     120,155  
 Earnings in equity accounted investments, net of dividends received    (1,498 )   682  
 Net finance costs    25,553     25,648  
 Current income tax expense    78,810     61,620  
 Deferred taxes    8,822     (15,539 )
 Equity-settled share-based payment transactions    8,726     5,709  
 Gain on sale of property, plant and equipment    (1,122 )   (377 )
      482,278     301,486  
               
 Change in inventories    2,934     35,730  
 Change in trade and other receivables    5,758     (5,343 )
 Change in prepaid expenses    (847 )   (7,206 )
 Change in trade and other payables    15,446     73,704  
 Change in income taxes payable    (1,534 )   757  
 Change in employee benefits    29,526     27,986  
 Change in other assets and liabilities    (19,363 )   (13,468 )
     514,198     413,646  
              
Interest paid    (24,163 )   (25,405 )
Income taxes paid    (86,505 )   (54,503 )
Cash provided by operating activities    403,530     333,738  
         
Financing activities             
              
Proceeds on issuance of long-term debt    138,663     566,752  
Repayment of long-term debt    (249,903 )   (223,036 )
Proceeds from issuance of shares    8,792     16,937  
Repayment of executive share purchase plan loans    2,186     -  
Purchase of shares held in trust    -     (13,680 )
Repurchase of shares    -     (3,018 )
Dividends paid    (37,943 )   (29,408 )
Cash (used for) provided by financing activities    (138,205 )   314,547  
          
Investing activities         
       
Additions to property, plant and equipment    (153,657 )   (116,097 )
Proceeds on disposal of property, plant and equipment    14,312     2,107  
Business acquisitions    (115,876 )   (528,319 )
Cash used for investing activities    (255,221 )   (642,309 )
Net increase in cash and cash equivalents    10,104     5,976  
Cash and cash equivalents at beginning of year    209,095     188,972  
Translation adjustments on cash and cash equivalents    2,674     14,147  
Cash and cash equivalents at end of year  $ 221,873   $ 209,095  
         
         

CCL Industries Inc.
Segment Information
Unaudited

In thousands of Canadian dollars
 Three Months Ended December 31   Twelve Months Ended December 31  
   Sales  Operating income   Sales  Operating income  
   2014  2013  2014   2013   2014  2013  2014   2013  
Label  $433,418  $361,682  $57,961   $45,047   $1,718,347  $1,344,206  $242,723   $195,332  
Avery   154,619   153,758   22,944    24,164    666,413   355,548   109,274    40,386  
Container   47,807   42,283   4,081    3,035    200,877   189,672   17,888    16,483  
Total operations  $635,844  $557,723   84,986    72,246   $2,585,637  $1,889,426   369,885    252,201  
                                      
Corporate expense           (9,918 )  (9,774 )          (34,716 )  (33,506 )
Restructuring and other items         (7,063 )  (24,204 )          (9,104 )  (45,248 )
Earnings in equity accounted investments         2,126    778            3,686    1,870  
Finance cost           (6,490 )  (6,991 )          (26,705 )  (26,290 )
Finance income           449    195            1,152    642  
Income tax expense          (18,496 )  (12,727 )          (87,632 )  (46,081 )
Net earnings          $45,594   $19,523           $216,566   $103,588  
                                      
   
Total assets
 
Total liabilities
 Depreciation and amortization  
Capital expenditures
                         
   2014  2013  2014  2013  2014  2013  2014  2013
                                 
Label  $1,668,565  $1,488,412  $436,527  $357,386  $118,679  $98,718  $106,739  $97,711
Avery   490,337   481,278   189,567   205,154   12,882   6,560   24,957   12,293
Container   162,460   147,858   54,701   49,607   14,064   14,074   20,077   6,047
Equity accounted investments   54,652   47,363   -   -   -   -   -   -
Corporate   242,361   236,737   721,361   771,366   796   803   1,884   46
Total  $2,618,375  $2,401,648  $1,402,156  $1,383,513  $146,421  $120,155  $153,657  $116,097
                                 

Supplemental Financial Information & Non-IFRS Measures

(1) Operating Income and operating income margin are key non-IFRS financial measures used to assist in understanding the profitability of the Company's business units. Operating income is defined as income before corporate expenses, net finance cost, goodwill impairment loss, earnings in equity accounted investments, restructuring and other items, and taxes. Operating income margin is defined as operating income over net sales.

(2) EBITDA and EBITDA margin are critical non-IFRS financial measures used extensively in the packaging industry and other industries to assist in understanding and measuring operating results. EBITDA is also considered as a proxy for cash flow and a facilitator for business valuations. This non-IFRS financial measure is defined as earnings before net finance cost, taxes, depreciation and amortization, goodwill impairment loss, earnings in equity accounted investments, non-cash acquisition accounting adjustment to finished goods inventory and restructuring and other items. EBITDA margin is defined as EBITDA over net sales. Calculations are provided below to reconcile operating income to EBITDA and Label operating income to Label EBITDA margin. The Company believes that these are important measures as it allows management to assess CCL's ongoing business without the impact of net finance cost, depreciation and amortization and income tax expenses, as well as non-operating factors and one-time items. As a proxy for cash flow, they are intended to indicate CCL's ability to incur or service debt and to invest in property, plant and equipment, and it allows management to compare CCL's business to those of CCL's peers and competitors who may have different capital or organizational structures. EBITDA and EBITDA margin are measures tracked by financial analysts and investors to evaluate financial performance and are key metrics in business valuations. EBITDA and EBITDA margin are considered important measure by lenders to the Company and are included in the financial covenants of CCL's senior notes and bank lines of credit.

Reconciliation of Operating Income to EBITDA

Unaudited

(In millions of Canadian dollars)                    
    Three months ended
December 31
st
   Twelve months ended
December 31
st
 
Sales   2014    2013    2014    2013  
Label   $433.4    $361.6    $1,718.3    $1,344.2  
Avery    154.6     153.8     666.4     355.5  
Container    47.8     42.3     200.9     189.7  
Total sales   $635.8    $557.7    $2,585.6    $1,889.4  
                     
Operating Income                         
Label   $58.0    $45.0    $242.7    $195.3  
Avery    22.9     24.2     109.3     40.4  
Container    4.1     3.0     17.9     16.5  
Total operating income    85.0     72.2     369.9     252.2  
Total operating income margin    13.4 %   12.9 %   14.3 %   13.3 %
                          
Less: Corporate expenses    (9.9 )   (9.7 )   (34.7 )   (33.5 )
Add: Depreciation & amortization    36.6     33.6     146.4     120.2  
Add: Non-cash acquisition accounting adjustment to finished goods inventory    -     -     -     16.7  
                          
EBITDA   $111.7    $96.1    $481.6    $355.6  
                          
                     
                     

Reconciliation of Label EBITDA

Unaudited

(In millions of Canadian dollars)                
   Three months ended
December 31
st
  Twelve months ended
December 31
st
 
   2014   2013   2014   2013  
Label Sales  $433.4   $361.6   $1,718.3   $1,344.2  
Label Operating Income   58.0    45.0    242.7    195.3  
                 
Add: Depreciation and amortization    29.8     26.5     118.6     98.7  
Add: Non-cash acquisition accounting adjustment to finished goods inventory for Label   -    -    -    2.1  
                      
Label EBITDA  $87.8   $71.5   $361.3   $296.1  
Label EBITDA Margin   20.3 %  19.8 %  21.0 %  22.0 %
                      

(3) Adjusted Basic Earnings per Class B Share is an important non-IFRS financial measure used to assist in understanding the ongoing earnings performance of the Company excluding items of a one-time or non-recurring nature. It is not considered a substitute for basic net earnings per Class B share but it does provide additional insight into the ongoing financial results of the Company. This non-IFRS financial measure is defined as basic net earnings per Class B share excluding gains on dispositions, goodwill impairment loss, restructuring and other items, Avery and DES finance costs, non-cash acquisition accounting adjustment to finished goods inventory and tax adjustments.

Reconciliation of Basic Earnings per Class B Share to
Adjusted Basic Earnings per Class B Share

Unaudited

(In millions of Canadian dollars)           
   Three months ended
December 31
st
 Twelve months ended
December 31
st
   2014  2013  2014  2013
Basic earnings per Class B Share  $1.33  $0.58  $6.31  $3.04
Net loss from restructuring and other items   0.18   0.61   0.22   1.03
OCP & DES finance costs   -   -   -   0.02
Non-cash acquisition accounting adjustment to finished goods inventory   -   -   -   0.34
                 
Adjusted Basic Earnings per Class B Share  $1.51  $1.19  $6.53  $4.43
                 

(4) Leverage Ratio is a measure that indicates the financial leverage of the Company. It indicates the Company's ability to service its existing debt. Leverage ratio is calculated as net debt (see calculation below) divided by EBITDA.

Leverage Ratio

(In millions of Canadian dollars)   
December 31, 2014
    
Current debt  $ 59.1
    
Long-term debt  600.0
Total debt    659.1
Cash and cash equivalents    (221.9)
Net debt  $ 437.2
EBITDA  $ 481.6
    
Leverage Ratio    0.9
      

(5) Free Cash Flow from Operations ("FCF") and Earnings Conversion ("EC") are relevant measures to the Company and its shareholders as it indicates the absolute and relative amount of cash generated by the Company during the year and available to fund dividends, debt repayments and acquisitions. FCF is calculated as cash flow from operations less capital expenditures, net of proceeds from the sale of property, plant and equipment. EC is calculated as FCF divided by net earnings.

Reconciliation of Free Cash Flow

         
Unaudited             
Free Cash Flow from Operations    2014     2013  
(In millions of Canadian dollars)             
              
Cash provided by operating activities  $ 403.5   $ 333.7  
         
Less: Additions to property, plant and equipment    (153.7 )   (116.1 )
Add: Proceeds on disposal of property, plant and equipment    14.3     2.1  
Free Cash Flow from Operations  $ 264.1   $ 219.7  
         
Net earnings  $ 216.6   $ 103.6  
Earnings conversion    122 %   212 %
         

(6) Return on Equity before goodwill impairment loss, restructuring and other items and tax adjustments ("ROE") are important measures for the investment community as it provides insight into the effective use of shareholder capital in generating ongoing net earnings. ROE is calculated by dividing annual net income before goodwill impairment loss, restructuring and other items, Avery and DES finance costs, non-cash acquisition accounting adjustment to finished goods inventory, and tax adjustments by the average of the beginning and the end-of-year equity.

The following table reconciles net earnings used in calculating the ROE measure to IFRS measures reported in the consolidated statements of financial position and in the consolidated income statements for the periods ended as indicated.

     Year-To-Date  

Return on Equity
  
2014
   
2013
 
(In millions of Canadian dollars, except per share data)
        
Net earnings  
$

216.6
  
$

103.6
 
Restructuring and other items, Avery and DES finance costs, non-cash acquisition accounting adjustment to finished goods inventory (net of tax)    7.5     47.4  
Adjusted net earnings  $ 224.1   $ 151.0  
              
Average equity  $ 1,117.2   $ 952.7  
              
Return on equity    20.1 %   15.8 %
         
         
         

Sales Change Analysis
Revenue Growth Rates (%)

                           
  Three Months Ended December 31, 2014  Year Ended December 31, 2014
   Organic   Acquisition  FX     Organic   Acquisition  FX   
   Growth   Growth  Translation  Total  Growth   Growth  Translation  Total
                           
Label  5.9   10.3  3.7  19.9  6.5   15.3  6.0  27.8
Avery  (5.9 ) 0.5  5.9  0.5  (5.5 ) 86.6  6.4  87.5
Container  8.7   0.0  4.3  13.0  1.9   0.0  4.0  5.9
CCL  2.8   6.8  4.4  14.0  3.8   27.2  5.8  36.8
                           
                   

Business Description

With headquarters in Toronto, Canada, CCL Industries now employs approximately 10,200 people and operates 101 production facilities in 29 countries on five continents with corporate offices in Toronto, Canada, and Framingham, Massachusetts. CCL Label is the world's largest converter of pressure sensitive and extruded film materials for a wide range of decorative, instructional and functional applications for large global customers in the consumer packaging, healthcare, automotive and consumer durables markets. Extruded & laminated plastic tubes, folded instructional leaflets, precision printed & die cut metal components with LED displays and other complementary products and services are sold in parallel to specific end-use markets. Avery is the world's largest supplier of labels, specialty converted media and software solutions to enable short run digital printing in businesses and homes alongside complementary office products sold through distributors and mass market retailers. CCL Container is a leading producer of impact extruded aluminum aerosol cans and bottles for consumer packaged goods customers in the United States, Canada and Mexico.

Audio replay service will be available from February 26, 2015, at 6:00 p.m. EST until March 12, 2015, at 11:59 p.m. EDT.

To access Conference Replay, please dial:

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Contact Information

  • For more information on CCL, visit our website - Email contact or contact:

    Sean Washchuk
    Senior Vice President and Chief Financial Officer
    416-756-8526