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Article: Amcor taking big bite out of Alcan assets.(News)

Article from:
Plastics News
Article date:
August 24, 2009
Copyright

Byline: Frank Esposito

Australian packaging giant Amcor Ltd. has become an even larger flexible plastics behemoth by snagging parts of Alcan Packaging from Rio Tinto plc for a little more than $2 billion.

Melbourne-based Amcor will pay about US$2.03 billion for Alcan Packaging Global Pharmaceuticals, Alcan Packaging Food Europe, Alcan Packaging Food Asia and Alcan Packaging Global Tobacco. Those units will add about US$4.1 billion in sales and 14,000 employees across 80 plants in 28 countries.

According to an Amcor news release, the deal fits with the firm's plan to grow its flexible packaging and folding cartons businesses.

"While ...

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