SLGN · CIK 849869
What Silgan Holdings Inc. told the SEC could break it.
What Silgan flagged clusters on its raw-material inputs: its packaging products depend on steel, aluminum, and resin, and supplier consolidation leaves it reliant on a limited number of suppliers for those metals, coatings, and compounds. It generally passes higher raw-material costs through to customers under multi-year supply arrangements, but warns that losing that pass-through ability or facing a supplier shortfall could materially hurt results. Compounding the cost side, U.S. and EU tariffs and quotas on foreign steel have raised its steel costs and constrained competitive supply, with tariff exemptions applied inconsistently and unpredictably.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Commodity & input dependence
- steel, aluminum, resin (packaging raw materials)medium
Silgan's packaging products depend on steel, aluminum, and resin; cost increases are generally passed through to customers under multi-year arrangements, but a loss of pass-through ability or supplier shortfall could materially hurt results.
“Increases in the prices of raw materials have generally been passed along to our customers in accordance with our multi-year customer supply arrangements and through general price increases.”
Regulatory & policy
- U.S. and EU steel tariffs and quotasmedium
U.S. (and EU) tariffs and quotas on foreign steel have raised steel costs and constrained competitive supply; tariff exemptions have been inconsistent and unpredictable, pressuring Silgan's metal-container input costs.
“The United States has imposed tariffs and quotas on steel supply into the United States from certain foreign countries, which has increased the cost of steel imported into the United States as well as ultimately steel manufactured in the United States.”
Supplier concentration
- limited number of suppliers for steel, aluminum, resin, coatings, compoundsmedium
Significant consolidation among suppliers leaves Silgan dependent on a limited number of suppliers for its key raw materials — steel, aluminum, certain resin, coatings and compounds.
“As a result of significant consolidation of suppliers, we are, however, dependent upon a limited number of suppliers for our steel, aluminum, certain resin, coatings and compound raw materials.”
SEC filing →As of 2026
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings, including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its customers
Hill's Pet Nutrition, Inc.
“Our largest customers for these products include Austria Pet Food GmbH, Campbell, Conagra Brands, Inc., Eagle Family Foods Group LLC, General Mills, Inc., Goya Foods, Inc., Hill's Pet Nutrition, Inc., Hormel Foods Corporation, Kraft Heinz, Mars, Incorporated, Nestlé, Nortera Foods Inc., O-AT-KA Milk Products, LLC, Pacific Coast Producers, Stanislaus Food Products Company and Tony Downs Foods Co.”
Cited →“Our largest customers of our dispensing and specialty closures business include Beiersdorf AG, British American Tobacco AB, Campbell, The Coca-Cola Company, Colgate-Palmolive Company, Coty, Inc., Dairy Farmers of America, Estée Lauder Companies, The Kraft Heinz Company, or Kraft Heinz, L'Oréal S.A., LVMH Moët Hennessy Louis Vuitton, Mizkan Holdings Co., Ltd., Molson Coors Brewing Company, Natura & Co., Nestlé, O Boticário, PepsiCo Inc., The Procter & Gamble Company, Puig, S.”
Cited →“Our largest customers for these products include Austria Pet Food GmbH, Campbell, Conagra Brands, Inc., Eagle Family Foods Group LLC, General Mills, Inc., Goya Foods, Inc., Hill's Pet Nutrition, Inc., Hormel Foods Corporation, Kraft Heinz, Mars, Incorporated, Nestlé, Nortera Foods Inc., O-AT-KA Milk Products, LLC, Pacific Coast Producers, Stanislaus Food Products Company and Tony Downs Foods Co.”
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