Alcan Packaging Acquisition Completed

Amcor has announced that its acquisition of the Alcan Packaging businesses has been completed. The acquisition provides Amcor with leading global positions in the nominated markets for flexible packaging and folding carton packaging for tobacco. It excludes Alcan’s Medical Flexible operations in the US.

Amcor’s Managing Director and Chief Executive Officer, Ken MacKenzie, said, “We are delighted to finalise the acquisition of the Alcan Packaging assets and have their talented team join Amcor. 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.

“We are now focused on ensuring seamless integration of these businesses and on achieving the synergies and opportunities offered by this acquisition.”

The company announcement mentions a purchase consideration of US$1948 million. Earnings for the Alcan Packaging acquired businesses increased in the second half of 2009, predominately because of improved economic conditions and benefits from prior period restructuring.

Coinciding with the acquisition, Amcor has announced a new logo/brand mark that will be progressively rolled out in the coming months. This symbolises the creation of a new company and the beginning of a new era, it says. It features the Amcor “pod” and the tag line “creating a new world of packaging.”

Tags: Amcor