Amcor announces today it has received approval from the US Department of Justice to acquire Alcan’s Medical Flexibles operations from Rio Tinto as part of the Alcan Packaging acquisition.
11 June, 2010: The Medical Flexibles business consists of four plants in North America, and approval is conditional on divesting one of the plants which is located in Marshall, North Carolina.
Amcor will initially acquire all four plants for consideration of US$66 million, with expected closure on 1 July 2010. The divestment process for the Marshall operation will commence immediately and, until completed, Amcor is required to hold and operate Marshall separately from its other businesses.
The Alcan Packaging acquisition announced in August of 2009 consisted of approximately 80 plants and sales of approximately A$4.6 billion. The combined Medical Flexibles business has annual sales of approximately US$115 million, of which the Marshall operation accounts for approximately US$30 million.
The three operations to be retained by Amcor produce a range of medical flexible packaging products.
Amcor’s Managing Director and CEO, Mr Ken MacKenzie said: “It is pleasing that the regulatory processes relating to the Alcan acquisition are now complete and that we have been successful in acquiring 79 of 80 plants, and $4.6 billion in sales.
“The integration of the two businesses is proceeding extremely well. A new culture has been established that combines the best elements of both organisations and there is enthusiasm to share best practices.”
About Amcor
Amcor Limited is a global leader in responsible packaging solutions, employing more than 35,000 people worldwide, operating in 43 countries across 300 sites. Amcor supplies a broad range of plastic (rigid and flexible), fibre, metal and glass packaging solutions to enhance the products consumers use in everyday life. Amcor also provides packaging-related services that help customers succeed through collaboration and innovation driven by art and science. Amcor is headquartered in Melbourne, Australia and is listed on the Australian Securities Exchange.
For more information visit www.amcor.com
Source: WorldPressOnline
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