Amcor (Melbourne, Victoria, Australia) and Schmalbachs PET businesses had combined 2001 sales of $3.3 billion. They will operate 51 plants in 20 countries. The combined 2001 sales for the companies closure operations were $1 billion. Plans call for the closure business to operate 21 plants in 15 countries.
Amcor is purchasing an extremely well managed business with an excellent track record of growth, says Russell Jones, Amcors managing director.
In combining the two businesses, [Amcor] will be able to enhance product innovation, purchasing, and customer relationships across a global operation, says Jones. The increased exposure to the value-added custom bottle market is a major advantage as this is the fastest growing and most technically demanding segment of the market.
According to Amcor, the acquisition will be funded through a combination of new equity, debt, and the sale of its 45% interest in Kimberly-Clark Australia.
For more information, call Amcor PET Americas Inc., at 905/286-2110 or visit the companys Web site at www.amcor.com