Converting

Crown Holdings, the metal packaging specialist, is to increase prices in its European food and closures division by an average of 5.5% from January 2008 across all markets.

The firm said leading tinplate producers, including ArcelorMittal and Corus Packaging Plus, had already announced "significant" price rises for raw materials in Europe.

Crown said rising oil prices and energy costs continued to impact on its manufacturing processes and the prices it had to pay for raw materials.

The firm said cost-cutting measures already implemented would not be sufficient to cover these ongoing increases.