EXHIBIT 99.1
News
For Immediate Release SILGAN HOLDINGS INC.
4 Landmark Square
Suite 400
Stamford, CT 06901
Telephone: (203) 975-7110
Fax: (203) 975-7902
Contact:
Robert B. Lewis
(203) 406-3160
SILGAN HOLDINGS ANNOUNCES THE ELECTION OF
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ANTHONY J. ALLOTT AS CEO
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STAMFORD, CT, March 1, 2006 -- Silgan Holdings Inc. (Nasdaq:SLGN), a leading
supplier of consumer goods packaging products, announced today that its Board of
Directors has elected Anthony J. Allott as Chief Executive Officer of the
Company effective March 1, 2006. Mr. Allott will also remain as President of the
Company.
Phil Silver and Greg Horrigan will continue in their roles as Co-Chairmen of the
Board, but in a non-executive capacity. The Board of Directors also announced
the Company's intention to amend its charter to expand the size of the Board
from six to seven directors. If the amendment to the Company's charter is
approved by shareholders at the next shareholders' meeting in 2006, it is the
Board's intention to appoint Mr. Allott as a director of Silgan Holdings.
Tony Allott joined Silgan Holdings in May 2002 as Executive Vice President and
Chief Financial Officer. In August 2004, Mr. Allott was appointed President and
given the responsibility for Silgan's operations. Messrs. Silver and Horrigan
said "Over the past few years, we have given Tony ever increasing
responsibilities and exposed him to all aspects of the Silgan business. We and
the other Silgan directors believe that Tony has
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the integrity, vision, energy and leadership to continue Silgan on the path of
growth and success."
Messrs. Silver and Horrigan added, "Since the Company's founding in 1987, we
have often stated that our substantial investment in Silgan has informed our
judgment in our oversight of the Company. We have previously communicated we
might sell shares from time to time for the purpose of diversification and/or
estate planning. We have each done some of that the past few years and may well
do more over the next several years. Even so, it is likely that we will each
continue to have a significant equity interest in Silgan, and that this
ownership will continue to inform our judgment in our roles as Co-Chairmen."
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Silgan Holdings is a leading North American manufacturer of consumer goods
packaging products with annual net sales of approximately $2.5 billion in 2005.
Silgan operates 60 manufacturing facilities in the U.S. and Canada. In North
America, Silgan is the largest supplier of metal containers for food products
and a leading supplier of plastic containers for personal care products and of
metal, composite and plastic vacuum closures for food and beverage products.
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