MELBOURNE, AUSTRALIA - Melbourne-based Visy Industries, a division of Visy Industries Holdings Pty. Ltd., is seeking a buyer for its films and laminates business unit.
A Visy spokesman confirmed potential buyers are being ``sounded out'' but would not give further details. He would not say what price Visy expects for the unit.
``We are seeking expressions of interest for the films and laminates business, but it does not mean we definitely will sell it. The division may potentially be worth more to someone else than us. No decision has definitely been made,'' he said.
The films and laminates unit originally was part of Melbourne-based Southcorp Ltd.'s Asia-Pacific packaging division, which Visy bought this year.
The A$800 million (US$422.4 million) acquisition of the division was completed Feb. 1. The division also makes plastic buckets, drums and cosmetic tubes.
The films and laminates business unit, which has annual sales of A$80 million (US$42.2 million), has Australian factories in Victoria, New South Wales and Queensland, and in New Zealand.