Australia's Orora buys Texas packaging distributor Worldwide Plastics

By Kate Tilley
Correspondent

Published: September 2, 2014 2:54 pm ET
Updated: September 2, 2014 2:57 pm ET

Image By: Worldwide Plastics Co. Worldwide Plastics Co. markets a range of food packaging.

Related to this story

Topics Packaging Mergers & Acquisitions United States Oceania
Companies & Associations

MELBOURNE, AUSTRALIA — Australian packaging company Orora Ltd. has bought San Antonio, Texas-based plastic packaging distributor Worldwide Plastics Co.

The bolt-on acquisition was completed July 1, Orora CEO Nigel Garrard and Chief Financial Officer Stuart Hutton said in a joint presentation about Orora’s financial results for the year that ended June 30.

It was Orora’s first acquisition since its demerger from Amcor Ltd. late last year.

Worldwide Plastics supplies produce trays to customers in the United States, Mexico and Canada. Its custom and stock containers are made from up to 100 percent post-consumer plastic.

Worldwide has 10 distribution centers in California, Missouri, Texas, Mexico and Canada. The company will become part of Orora’s North America reporting segment.

Garrard said: “We expect targeted bolt-on acquisitions to be part of our growth across the regions we operate in, where they are aligned with our strategy and satisfy our return rate for new investments.”

For the year to June 30, Orora reported pro forma net profit after taxes but before significant items of A$104.4 million (US$97.4 million). Sales hit A$3,176.1 million (US$2,961.9 million).

 “We have delivered pro forma earnings growth of [about] 30 percent by increasing sales revenue and continuing to successfully deliver on cost-reduction programs,” Garrard said.

Orora spun off from Amcor on Dec. 17, and is listed on the Australian Securities Exchange.


Comments

Australia's Orora buys Texas packaging distributor Worldwide Plastics

By Kate Tilley
Correspondent

Published: September 2, 2014 2:54 pm ET
Updated: September 2, 2014 2:57 pm ET

Post Your Comments


Back to story


More stories

Image

Flextronics launches global injection molding, tooling unit

March 26, 2015 4:29 pm ET

Flextronics International Ltd. (Booth S34125) is officially launching Precision Plastics, a global injection tooling and manufacturing unit, as a...    More

Image

Kautex showing off an extrusion blow molding machine at NPE

March 25, 2015 6:00 am ET

After 80 years in business, Kautex Maschinenbau GmbH officials know good old-fashioned word of mouth is often the best way to reach more customers.    More

Image

Fabri-Kal to expand its sustainable packaging with new Idaho plant

March 20, 2015 2:03 pm ET

Thermoformed packaging company Fabri-Kal Corp. plans to tap into Idaho's farming community to expand its sustainable packaging program.    More

Silgan picks Hazelwood, Mo., for plant

March 20, 2015 11:32 am ET

Silgan Plastics has reportedly selected the location of its second new plastics container plant.    More

Image

Advances in barrier injection molding highlighted at NPE

March 17, 2015 10:39 am ET

It's a Holy Grail of plastics: Clear, coinjection molded containers to replace metal cans, the common “tin can” produced by the billions e...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events