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

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

Image

Cambro investing $30.4 million in new N.C. injection molding plant

April 18, 2014 2:36 pm ET

Foodservice products manufacturer Cambro Manufacturing Co. Inc. plans to set up a satellite production and distribution operation in Mebane, N.C., to ...    More

Image

Increased orders prompt Georg Utz to add capacity, equipment in Indiana

April 18, 2014 12:20 pm ET

Plastic totes and tray orders have picked up to the point where manufacturer Georg Utz Inc. has added machines, silos and material feed systems to...    More

PolyQuest spins off FiberQuest unit

April 18, 2014 10:14 am ET

PolyQuest Inc. has spun off its FiberQuest unit — which distributes polyester staple fibers and cotton — as a separate company.    More

Spain's Cristian Lay Group buys two materials units of bankrupt LSB

April 17, 2014 11:11 am ET

Spanish industrial conglomerate Cristian Lay Group has purchased two of the bankrupt Spanish PET packaging group La Seda de Barcelona.    More

MGS buying N.Y. medical molding plant from Hospira

April 17, 2014 10:19 pm ET

MGS Manufacturing Group is purchasing the Buffalo, N.Y., injection molding facility and related product line of Hospira Inc., effective July 1. Terms ...    More

Market Reports

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

Automotive Market Review and Outlook 2014 The Americas

This 75-page report features in-depth analysis of the automotive industry for the Americas. It includes discussions of market trends, legislative/regulatory activity impacting production and threats as well as design strategies being implemented by the major automakers. Detailed charts and data tables outline North American automotive production over the last five years.

Learn more

Plastics Building & Construction Market Review and Outlook 2014 with MS Excel chart data

This report provides in-depth analysis of the plastic building and construction market for North America, including discussions of trends, opportunities, threats and the latest developments in construction trends that impact plastics processors.

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