Amcor sells three non-core flexible packaging plants
Integrated Packaging picks up the facilities for $22.3-million.
AUSTRALIA—Amcor Ltd. has announced the sale of three of its flexible packaging plants in: Cheltenham, Victoria; and Chester Hill and Kirrawe of NSW—all in Australia.
These sites were previously acquired as part of the Aperio Group acquisition of May 11, 2012 and focused on non-core industrial and agricultural markets.
The purchaser is Integrated Packaging Group, a privately-owned Australian business, that is largest specialist manufacturer and distributor of stretch film wrap and associated products. Integrated Packaging says the plants will reinforce its growth strategy in industrial and agricultural packaging as well as expanding the company’s presence in printing, converting and PVC (Polyvinyl chloride) plastic food films throughout Australasia.
The sale consideration is AD $22-million (CDN $22.3-million) and is subject to ACCC (Australian Competition and Consumer Commission) approval.
Calling itself the world’s largest packaging company manufacturing cartonboard, beverage cans, closures, fiber packaging, flexible films, glass and PET bottles, Amcor has over 30,000 employees at more than 300 sits across 40 countries.
The Amcor/Aperio name and brand will remain the property of Amcor Ltd.