Flexible packaging specialist Amcor Flexibles (Abbotsford / Australia; www.amcor.com) has agreed to sell its AF Camvac plant in Thetford / UK to private equity firm GIL Investments (Stratford-upon-Avon / UK; www.groveind.co.uk). The purchase price has not been disclosed. AF Camvac was bought by Amcor in 2002 and has a turnover of GBP 20m (EUR 25.4m), with over 100 staff. It operates in a different market to the other Amcor Flexibles businesses, supplying coated, metallised and laminated flexible barrier films, mainly to converters. The sale reflects Amcor’s current strategic review to reposition its business and create a more focused product portfolio. Last month it opened a EUR 5m purpose-built, clean room manufacturing facility in Sligo / Ireland – see Plasteurope.com of 29.09.2008.

GIL Investments owns Total Polyfilm (Brighouse / UK; www.totalpolyfilm.com), the former Tyco Plastics UK film business. It also owned Peerless Plastic Packaging before selling the company to Superfos (Taastrup / Denmark; www.superfos.dk). GIL chairman David Grove said the Camvac business is profitable, with high manufacturing standards and an excellent customer base. He added: “It also has what we believe to be an unparalleled expertise in metallised and laminate film technology.”

Amcor says its overall restructuring programme “continues to make solid progress.” It remains on target to deliver an estimated EBIT benefit of EUR 30m per annum for an estimated cash cost of EUR 60m. The majority of the benefits will be realised in the 2009/2010 financial year.