Crown Holdings, Inc

Crown is an international packaging company with a majority of sales outside the United States; management disclosed that international operations generated about 61% of consolidated net sales in 2025. The company highlighted growth and investment in North America, Brazil, Europe, and Southeast Asia, with capacity expansion and facility upgrades planned in Brazil, Greece, and Spain. Its facilities are generally located close to major customers, which reduces freight costs and supports just-in-time service for short-cycle packaging demand. Because it operates across many jurisdictions, the business is exposed to foreign exchange, local regulation, and regional demand swings, especially in emerging markets.

Crown faces customer concentration risk because a small number of global beverage companies account for a large share of sales, and customer consolidation can increase pricing pressure. The company also operates internationally, so foreign exchange movements, political instability, labor disruptions, and local regulatory differences can affect earnings and cash flow. Its manufacturing model depends on raw materials such as aluminum, steel, polyethylene, and polypropylene, which are bought in price-sensitive markets and can be volatile. In addition, the business is exposed to seasonal working-capital swings, cybersecurity and cloud-system disruption, and legacy asbestos liabilities that require judgment and can create material uncertainty.