Amcor announced today that it has completed its $1.95 billion acquisition of the Alcan Packaging businesses, including the former Alcan Packaging Global Pharmaceuticals, Food Europe, Food Asia and Global Tobacco divisions. The purchase consideration represents a profit before interest, tax, depreciation and amortization (PBITDA) multiple of 5.1 times based on earnings for the year ended Dec. 31, 2009, of $383 million (excluding Medical Flexible operations in the U.S.).
“From a strategic perspective, the businesses we have acquired are strongly aligned with our nominated growth segments, and provide the ability to substantially improve the value proposition for our customers,” says Amcor’s managing director and chief executive officer Ken MacKenzie. “We are now focused on ensuring seamless integration of these businesses and on achieving the synergies and opportunities offered by this acquisition.”
Coincidental to the Alcan acquisition, Amcor launched a new global brand to signify the creation of a new company and the beginning of a new era at the company. Says Amcor, the new brand includes the Amcor “pod” which houses the five core values-safety, integrity, teamwork, social responsibility and innovation. These values lie at the heart of defining who we are and how we behave, and the five pillars of sustainability-environment, community, workplace, marketplace and economy-which guide the converter’s commitment to responsible packaging.
“The brandmark and other symbols of our new identity reflect a new and progressive organization of people dedicated to innovation and committed to sustainability,” says MacKenzie. “With more than 300 sites across 43 countries, a strong, unified brand across all our operations and geographies is an important part of our future. As we grow and create industry leading benchmarks in packaging, our brand will represent and support our messages, relationships and reputation.”
+ 61 3 9226 9000; www.amcor.com
NPES Industry Summit to reveal latest on economic, printing recovery
NPES, the trade association for suppliers to printing, publishing and converting businesses, will hold its 2010 Industry Summit, an annual economic and industry trends conference, March 22–24 at InterContinental Harbor Court in Baltimore, Md. A combination of two NPES conferences, including PRINT OUTLOOK 2010 March 22–23 and the PRIMIR Spring Meeting March 23–24, the 2010 Industry Summit will offer a survey of the current economic landscape and what it means to individual companies and the graphic communications industry at large.
“Recovery in this new business climate will not necessarily translate to an automatic increase in business or a quick rise in profits for graphic communications businesses,” says Ralph Nappi, NPES president. “The NPES 2010 Industry Summit gives attendees a thorough understanding of just how our industry has been affected by the recession, how the recovery will unfold and, most importantly, how they can take greatest advantage of the recovery as we go forward.”
Converters Expo returns to Lambeau
The third annual Converters Expo returns to Lambeau Field Atrium in Green Bay, Wis., on March 4. This year, the show will host more than 70 packaging and converting exhibitors.
Show management has added two Skybox Seminars to this year’s agenda. The first, titled A Printing & Coating Panel, will be hosted by Dennis Curtin of Press Color Inc. Ron Hageman from New Composite Partners will host a second panel on sustainability.
SPE adds technical briefs online
SPE PRO, a new, free online service from the Society of Plastics Engineers (SPE), provides a regularly updated selection of professionally edited briefs in key sectors of plastics technology and polymer science, enabling any site visitor to keep abreast of the latest developments. At least 80 briefs will be available at a time to all visitors and SPE members will have access to additional archived briefs.
Yerecic Label adds flexo press
New Kensington, Pa.-based Yerecic Label has installed a new Mark Andy Performance Series P7 flexo press. The 12-color, 17-inch press features the Performance Series designed rail system for web turn bar and laminator, a custom delamination and relamination kit, high-efficiency hot air drying system and moveable UV curing to meet the company’s multi-web application and lamination demands.
Heritage Packaging expands bag-making operation
Victor, N.Y.-based Hertiage Packaging has added two new machines, a Ro-An-24 and a Prototech-36, capable of running both large and small-runs of bags or pouches for an array of industrial, commercial and military applications. The new lines now allow the converter to offer three-sided, shaped seal, re-closable zipper and spout attachment pouches; pet food, chemical and high barrier packaging pouches; and specially equipped pouches designed for medical applications.
Layfield Packaging receives food safety certificate for packaging materials
Richmond, B.C.-based Layfield Packaging is the first British Columbia packaging company to be certified for a recently developed food safety standard for packaging materials. The standard, known as PACsecure, was developed by an 80-member committee of The Packaging Association in conjunction with the Canadian Food Inspection Agency.