date:Jul 27, 2012
The Food and Beverage segment profit declined 5% to $100m in Q2 2012 compared to Q2 2011 due to higher costs for some raw materials and freight and lower overall volume.
However, sales grew 5% to $808m in the business led by improved pricing and product mix from Polytop, the caps and closures business, acquired in Q4 2011.
Food and beverage packaging volumes declined and continued to be impacted by the ongoing global economic climate, particularly in Europe; however, volumes outperformed indus