AMCOR
Purchase of Chinese flexible packaging producer Hebei Qite for USD 28m / Acquisition of Sonoco's rigid plastics blow moulding slate wrapped up
Amcor (Hawthorn / Australia; www.amcor.com) continues to grow its footprint in China. In early November, the packaging giant from Down Under acquired Hebei Qite Packing (Luquan, Hebei / China), a company specialised in the production of multi-layer compound colour printed packaging products and film. The USD 28m deal still remains subject to regulatory approval.

Established in 2000, Hebei Qite produces mostly flexible packaging for the Chinese dairy and food industries. The company last posted sales of about USD 28m, Amcor said. Including synergy effects, the acquisition is expected to generate “strong returns” for shareholders within three years, the company added. Commenting on the purchase, Amcor CEO Ron Delia said, “Globally and especially within Asia, China is a very attractive growth market for flexible packaging. This acquisition will enhance our already attractive platform for growth with new and existing customers in the important northern region.”

Amcor already operates 11 flexible packaging plants in China, including two facilities in close proximity to Hebei Qite’s operations. Last year the company acquired Guangdong-based Zhongshan Tian Cai Packaging for a similar price tag (see Plasteurope.com of 09.06.2015).
Sonoco deal completed
In other news, and related to the group’s activities in the US and Canada, Amcor in early November also wrapped up its acquisition of the Rigid Plastics Blow Moulding segment of US packaging group Sonoco Products (see Plasteurope.com of 06.09.2016). The USD 280m deal will give the company additional scale and add to its capacities for speciality container production, Amcor said.

The business concerned operates six plants in the US as well as one in Canada and last posted sales of USD 210m.
11.11.2016 Plasteurope.com [235524-0]
Published on 11.11.2016
Amcor: Deal für Sonocos Blasformgeschäft perfektGerman version of this article...

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