Amcor announced in August that it has offered to acquire parts of Alcan Packaging from metal and mineral giant Rio Tinto for $2.025 billion. Under the deal, Amcor has agreed to acquire Alcan Packaging Global Pharmaceuticals, Alcan Packaging Food Europe, Alcan Packaging Food Asia and Alcan Packaging Global Tobacco.
As of June 2009, Amcor generated AU$9.53 billion in sales in operations covering 226 sites and approximately 21,000 employees worldwide. The parts of Alcan Packaging that Amcor plans to acquire would add approximately US$4.1 billion in sales and 14,000 employees across 80 plants in 28 countries.
In spite of the difficult economic times around the world, Amcor believes it’s in a solid financial position and the acquisition will clearly fit the company’s strategic growth plans.
“We made the tough decisions several years ago to reshape our company through focus and discipline,” says Amcor managing director and chief executive officer Ken MacKenzie.
The acquisition is subject to regulatory approvals and meetings with European Works Councils, thus the closing of the acquisition is not expected for several months. Until then, both Amcor and Alcan Packaging will continue to operate as separately run entities. n
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Amcor offers to acquire parts of Alcan Packaging
October 1, 2009