Amcor receives US approval for acquisition
Amcor Limited (AMC) said it has received approval from the US Department of Justice to acquire Alcan’s Medical Flexibles operations from Rio Tinto Limited (RIO) as part of the Alcan Packaging acquisition. The company said the acquisition consists of four plants in North America for US$66 million, and approval is conditional on divesting one of the plants, which is located in North Carolina.
Amcor said the Alcan Packaging acquisition announced in August of 2009 consisted of approximately 80 plants and sales of approximately $4.6 billion.
The company said the combined Medical Flexibles business has annual sales of about US$115 million, of which the Marshall operation accounts for approximately US$30 million.
Amcor’s managing director and CEO, Ken MacKenzie, said it was pleasing that the regulatory processes relating to the Alcan acquisition are now complete and that the company have been successful in acquiring 79 of 80 plants, and $4.6 billion in sales.
As at 1059 AEST, Amcor shares were up 18c to $6.38.
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