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Silgan completes acquisition of Rexam unit

STAMFORD, Conn. (AP) -- Consumer product packaging company Silgan Holdings Inc. said Tuesday that it has completed its $248.1 million acquisition of Rexam PLC's plastic thermoformed food business.

The business will make bowls and trays for food products and operate under the name Silgan Plastic Food Containers. The company expects it will generate roughly $100 million in revenue this year.

Silgan expects this business will be neutral to earnings in 2012 and add to earnings next year.

Shares of Stamford, Conn.-based Silgan rose 25 cents to close at $42.18.