Amcor sells three manufacturing plants to Integrated Packaging Group

By Kate Tilley
Correspondent

Published: October 16, 2012 6:00 am ET

Related to this story

Topics Packaging, Mergers & Acquisitions, Film & Sheet

MELBOURNE, AUSTRALIA (Oct. 16, 3:45 a.m. ET) — Integrated Packaging Group Pty Ltd's (IPG) acquisition of three Amcor Ltd.’s Australian flexible packaging plants for A$22 million (US$22.6 million) is likely to be finalized in November, subject to regulatory approval.

Melbourne-based global packaging company Amcor bought the three plants as part of its US$252.5 million acquisition of Melbourne-based flexible packaging supplier Aperio Group Australia Pty. Ltd. The sale was finalized in March.

The plants are in Cheltenham, Victoria; Chester Hill, New South Wales; and Kirrawee, New South Wales. They manufacture plain and printed polyethylene products, including printed industrial bags; shrink film; and PVC food films.

Melbourne-based IPG manufactures and distributes polyethylene stretch film wrap and associated products to the agricultural and industrial markets. IPG bought Amcor's flexible packaging plant in Kewdale, Western Australia, in August 2008.

In a statement, Amcor said the three plants serve non-core industrial and agricultural markets. The sale is subject to approval from the Canberra-based regulator, the Australian Consumer and Competition Commission.

Amcor said the sale will not impact expected synergies from the Aperio acquisition, which will remain at A$25 million (US$25.7 million) by year three.

IPG CEO John Cerini said the acquisition reinforces IPG's growth strategy in industrial and agricultural packaging, allowing it to further grow its Australian, New Zealand, Asian and North American markets.

"It gives us additional capabilities in printing, converting and PVC food films which will improve our technical expertise providing opportunities into new sales market segments and gives IPG an excellent platform for future expansion," Cerini said.

IPG will formulate a 100-day plan to integrate the businesses. To aid the transition, Amcor will continue to provide some services to IPG for an unspecified time. No job cuts are expected, with IPG offering employment to all Amcor employees at the three sites.


Comments

Amcor sells three manufacturing plants to Integrated Packaging Group

By Kate Tilley
Correspondent

Published: October 16, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Coveris makes another flexible packaging buy

August 22, 2014 9:34 am ET

Coveris Holdings is continuing its rapid acquisition pace, this time picking up flexible print specialist Learoyd Packaging (Holdings) Ltd. to boost...    More

Image

Promens closing 2 German blow molding plants

August 22, 2014 9:54 am ET

Promens hf, the Icelandic packaging group, is planning to restructure its packaging operations in Germany with the closure of two blow molding plants ...    More

Image

German injection molders Metz-Werke and Inotech to collaborate

August 21, 2014 11:47 am ET

German injection molding companies Metz-Werke GmbH & Co. KG and Inotech Kunststofftechnik GmbH have announced that they have joined forces to bring...    More

Image

Inteplast expands in corrugated sheet with Coroplast deal

August 21, 2014 5:28 pm ET

Packaging major Inteplast Group has acquired its main competitor in corrugated plastic sheet, Coroplast Inc. Inteplast gets corrugated sheet plants...    More

Image

NanoHolding, Applied Nanotech merge to form PEN Inc.

August 21, 2014 4:44 pm ET

Nanotechnology firms NanoHolding Inc. and Applied Nanotech Holdings Inc. are merging to create PEN Inc., a publicly held firm whose product mix will i...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events