Silgan Holdings reports strong second quarter earnings

Silgan Holdings Inc. posted a second quarter net income of US$26.8 million for the year, up from US$16.4 million over the same period last year.

The supplier of consumer goods packaging products said net sales for the second quarter of 2007 grew 14.5 percent to US$683.6 million.

"Performance was particularly strong in our closures business, where the recently acquired European operations were solidly accretive,” said Tony Allott, president and chief executive officer of Silgan.

“The metal food container business significantly outperformed the second quarter of 2006, and we successfully concluded certain union negotiations,” Allott said.