Amcor sells two European flex-pack plants
-- Converting Magazine, 4/25/2008
Australian converting giant Amcor, Ltd. (www.amcor.com) enters an agreement April 15 to sell its flexible-packaging plants located in Lund, Sweden, and Somerset, UK, to Accent Equity 2008, a Swedish private-equity group. Terms of the deal were not disclosed.
The plants, primarily involved in the production of unprinted films for the meat and fish segments, have combined annual sales of approximately US$135 million.
These divestments are part of Amcor’s previously announced consolidation and restructuring program for its overall flexibles operations in Western Europe. Key objectives are to strengthen market positions through better leverage of technology and manufacturing capabilities; increase weighting in lower-cost regions, particularly in Southern and Eastern Europe; improve alignment to customer needs and market trends; and create a strong platform for innovation and continued growth, Amcor says.
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