Crown completed its acquisition of Spain's Mivisa on 23 April. The EC had approved earlier last month the US$1.6bn deal which is expected to increase Crown's food can sales in Europe by about $300m. The planned sale of canmaking plants in Spain required by the European Commission (EC) as part of the acquisition had an impact on Crown's profits in the first quarter of 2014. Crown's net profit in the first three months of the year would have been $66m, up from $41m in the same period in 2013, but it took a charge of $42m related to the expected sale of the Spanish operations, which reduced net profit to $24m. Sales in the quarter increased marginally by $20m to $1,993m, boosted by strong shipments of beverage cans in the Asia Pacific region and Brazil, where last month it commissioned its new plant at Teresina.
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