Crown Holdings, Inc. (NYSE: CCK) is one of the largest manufacturers of beverage and food cans (usually for soda and soup) in the U.S. In 2006, Crown generated over $7 billion in revenue with an overall operating margin of about 3%^[1]. Although a significant portion of the company's manufacturing takes place in the United States, nearly 78% of Crown's net sales come from outside the US (mostly in Europe). This international exposure has benefited the company as the the dollar has continued its decline against the Euro and the British Pound, making Crown's products relatively cheaper to customers in two of its largest markets.

Crown makes a substantial portion of its products in the United States and Europe. As competition from foreign-based companies that use cheaper, outsourced labor from emerging markets grows, the company will face mounting pricing pressures. In response to these pressures, Crown has begun reducing its costs by closing several unprofitable divisions, better controlling its raw materials costs through future contracts and perhaps most importantly, increasing the portion of its manufacturing that takes place in developing countries.

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