Silgan Holdings
Silgan Holdings Logo
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| Silgan Holdings | |
| Traded as |
NASDAQ: SLGN S&P 400 Component |
| Industry | Packaging manufacturing |
| Founded | 1987 |
| Founder | Phil Silver and Greg Horrigan |
| Headquarters | Stamford, Connecticut |
| Revenue | $6.2 billion US Dollars |
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Number of employees
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17,000 |
| Website | silganholdings |
Silgan Holdings is a Connecticut-based American manufacturing company that produces consumer goods packaging. The company was founded in 1987 by two former executives of Continental Can, Phil Silver and Greg Horrigan - their names contributing to the company name. Through several acquisitions of rival companies, and the pursuit of contracts with Del Monte Foods and Nestlé, Silgan Holdings' share of the market rose from 10% in 1987 to 36% in 1995. Later acquisitions in the late 1990s and early 2000s left the company with debt problems noted by both Forbes and the New York Times, however by the early 2010s the company was consistently profitable.
Silgan Holdings employs around 17,000 staff within its own and its subsidiary companies. It is currently headquartered in Stamford, Connecticut, and possesses factories across North America and Europe.
After being founded in 1987, Silver and Horrigan proceeded to acquire several competitors and pursued contracts with Del Monte and Nestle. Their share of the market rose from 10% in 1987 to 36% in 1995, according to the New York Times. The company purchased a portion of a rival organisation, the Campbell Soup Company, in 1998 for $150 million US Dollars. These acquisitions, however, did lumber the company with significant debt in the late 1990s - it owed $700 million in "long term debt" in September 1997. In 2003, one hundred employees went on strike over wages and health benefits, following a failure of negotiations.
By the late 2000s, however, Silgan was consistently profitable. Between 2004 and 2005 profits rose by 3.1%, as did its position on the Fortune 500. In 2009 it registered $131.6 million in profits, a 7.2% increase over 2007, and was ranked at 671, an increase of fifteen levels. In 2011 it purchased the entirety of Graham Packaging $1.3 billion US Dollars. In 2013, Silgan's share-holdings had risen by 15% over the previous two years, though despite several successful acquisitions, dropping demand in Europe was still problematic. By July 2013, shares had fallen by 0.9%. Upon completing the acquisition of Portola Packaging in October 2013, however, share prices then stabilized and went on to increase by a further 5.1%.
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Wikipedia