Aussie packaging manufacturer launches public offering

By Kate Tilley
Correspondent

Published: November 27, 2013 2:05 pm ET
Updated: November 27, 2013 2:07 pm ET

Related to this story

Topics Packaging, Mergers & Acquisitions, Injection Molding, Blow Molding, Oceania, Asia

MELBOURNE, AUSTRALIA — Australian packaging company Pact Group Holdings Ltd. today lodged a prospectus with the Australian Securities and Investments Commission for an initial public offering.

The offer is expected to raise about A$649 million. It opens Dec. 5 and closes Dec. 13.

Shares are expected to start trading on Australian Securities Exchange on Dec. 17.

Melbourne-based Pact Group manufactures a wide range of packing products at plants in Australia, New Zealand, China, the Philippines and Thailand.

It has 39 manufacturing plants across Australia, 18 in New Zealand, and five in China, the Philippines and Thailand. There are 2,200 employees in Australia, 900 in New Zealand and 400 in Asia.

Geminder Holdings, an entity controlled by non-executive chairman Raphael Geminder, who founded the company in 2002, will remain a key shareholder in Pact, retaining a 40 percent shareholding. In 2002, Pact had 15 manufacturing plants and A$223 million in annual sales.

Pact serves the food, dairy, beverage, personal care, other household consumables, chemical, agricultural, industrial and other sectors. Its manufacturing operations primarily involve plastic molding, including blow molding, injection and compression molding and automated assembly processes of plastic packaging and components.

“Pact is the largest [domestic] supplier of rigid plastics packaging, the fastest growing segment of the global packaging market,” Geminder said. “We have a market leading position in Australia and New Zealand and an emerging position in Asia’s fast-growing packaging market.”

The prospectus said key risks for potential investors include increased competition, changes to consumer preferences, product liability claims and possible recalls, and changes to key customers. It said Pact’s top 20 customers accounted for about 42 percent of sales in the year that ended June 30.

The prospectus said Pact had made 34 acquisitions since its 2002 launch.

It entered the Asian market in 2007 by establishing a plastic consumer packaging operation in the Philippines. Since then, it has grown its presence in the region through establishing a Singapore procurement office in 2008, a plastic closures manufacturing plant in Thailand in 2008, and acquiring three rigid plastics packaging manufacturing plants in China in 2012.


Comments

Aussie packaging manufacturer launches public offering

By Kate Tilley
Correspondent

Published: November 27, 2013 2:05 pm ET
Updated: November 27, 2013 2:07 pm ET

Post Your Comments


Back to story


More stories

Sumitomo Bakelite buying injection molder Vaupell Holdings

April 24, 2014 7:37 pm ET

Private equity firm H.I.G. Capital LLC of Miami has entered into a definitive agreement to sell plastics processor Vaupell Holdings Inc. to Sumitomo...    More

Image

Chicago City Council committee approves plastic bag ban

April 24, 2014 7:11 pm ET

Chicago is poised to become the next major U.S. city to enact a ban on single-use plastic bags after a City Council committee vote on April 24.    More

Zimmer buying Biomet in $13 billion deal

April 24, 2014 4:25 pm ET

Orthopedic device giant Zimmer Holdings Inc. is buying rival Biomet Inc. in a $13.35 billion cash and stock deal, the companies announced April 24.    More

Image

PolyOne says new Shanghai center will ease collaboration across segments

April 24, 2014 2:34 pm ET

PolyOne Specialty Engineered Materials is opening an innovation Center in Shanghai's Jinqiao development zone that will serve as its new Asia Pacific ...    More

Injection molder Precision Plastics adding space, presses in Indiana

April 24, 2014 2:54 pm ET

Custom injection molder Precision Plastics Inc. is expanding its Columbia City, Ind., operation.    More

Market Reports

Market Data Book - Rankings & Lists

A one-stop download of Plastic News' exclusive annual lists and processor rankings containing essential data including sales, employees, end markets, materials and more.
EXCLUSIVE EXCEL FEATURE: full mailing address details for available plant locations.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Mold Making and Tooling Review and Outlook 2014 North America

This report provides in-depth analysis of the mold and toolmaking market for North America, including discussions of trends, opportunities, threats, the latest developments in production and labor and equipment trends impacting moldmakers.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

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

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events