Logistics News

Amcor sells three of its packaging plants

Packaging giant Amcor sells three flexibles packaging plants to provately owned Integrated Packaging $22 million

October 16, 2012

Packaging giant Amcor has sold
three flexible of its packaging plants to Integrated Packaging in Australia for $22 million.

Acquired as part of the group’s earlier purchase of Aperio, Amcor says the Flexibles Packaging plants, based in Cheltenham, Victoria, Chester Hill, NSW and Kirrawe, NSW plants focused on “non-core industrial and agricultural markets”.

while stiill subject to ACCC approval, Amcor
says the transaction was based on the same earnings multiple it paid for Aperio.

“The synergies from the Aperio acquisition are not impacted by the sale and remain at $25 million by year three,” Amcor says.

Integrated Packaging (IPG) 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 Food films.

The privately owned packaging business
adds the acquisition
will enable it to further its development of innovative, cost effective and environmentally beneficial solutions for our customers in Australia, New Zealand, and other global markets such as Asia and North America.

“[The acquisition] will also gives us access to broader technology, new market segments and provides an excellent platform for future expansion of the business which ultimately serves to better satisfy both IPG customers and customers from the three plants,” the company says.

The acquisition will be effective on completion of the sale, which is expected end of November 2012.

IPG says all employees will be offered employment by IPG.

“This will obviously include all employees from the Cheltenham, Chester Hill and Kirrawee sites and business,” the company says.

“Initially the key focus will be on the integration and transition of business.

“IPG will formulate a 100 day plan which is designed to focus on completing a seamless integration of the businesses. We will spend significant time initially engaging with customers, employees and suppliers to form an ongoing strategy for the business.”

The Amcor/Aperio name and brand will remain the property of Amcor Ltd.

Previous ArticleNext Article
  1. Australian Truck Radio Listen Live
Send this to a friend