Global packaging specialist Rexam (London / UK; www.rexam.com) has initiated proceedings to sell its healthcare business, a move, it says, is part of a long-term strategy to focus on beverage cans and maximise shareholder value. Healthcare is the only plastics-based packaging operation left within Rexam. The company has also sold off its closures business in 2011 as well as its personal care business earlier this year.

Apparently, the revenues from its healthcare business, which accounts for roughly 10% of the entity's overall returns of GBP 4.3 bn GBP (EUR 5.3 bn), nor the earnings in the first few months of 2013 have exactly brought smiles to management. Though, according to company CFO David Robbie, the segment has a promising and robust product pipeline", it will take another two to three years before the new packaging appears on the market. That, it appears, is too long for Rexam to wait.

"We are seeing a lot of interest in our healthcare business," notes CEO Graham Chipchase when describing the reaction in the industry toward the company's planned sales announcement. Indeed, acquisition activities are on an upswing once again. He did not provide any details of the potential price for the unit.

Currently, the UK company's healthcare segment includes 13 production sites with roughly 3,100 employees in Europe, the US and India. Its product range from insulin pens, multi-layered containers and injection packaging for flu inoculations.