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Amcor confirms 287m PET arm sale to La Sedastevenkiernan, 2 July 2007Be the first to comment on this article Amcor is to sell its European PET business to La Seda de Barcelona for an estimated 287m (EUR425m), it was announced today, confirming two months of speculation.
Australian-owned Amcor expects the sale to be completed in the next three months, and will reinvest the proceeds into "growth market segments" and "strengthening existing market positions". As well as selling the PET plants, it is also looking to restructure its European flexible packaging operations, which include 11 plants in the UK. For the year to 30 June 2007, Amcor's PET production plants recorded estimated revenues of £368m. Speak Your Mind |
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