Amcor Flexibles restructure rolls on with AF Camvac sale

The sale of the Thetford-based barrier film plant, which has annual sales of £20m and 114 staff, is understood to have been completed in the early hours of this morning.

Camvac was originally bought by Amcor in 2002 and its markets include the food, drinks, medical and industrial sectors. Its business will continue under existing management.

In a statement, Steve Isherwood, Camvac managing director said: “We look forward to an exciting future focusing on our customers needs and bringing high performance products to meet the changing requirements and opportunities within the markets we serve.”

The company’s sale by Amcor follows that earlier this year of two plants in Somerset and in Lund, Sweden to management, who rebranded the two plants as Flextrus.

Amcor also sold part of its European PET business to Spanish group La Seda de Barcelona in a EUR425m deal in July last year.

In a statement, Amcor Flexibles said that the sale was part of its Flex 1 strategic review, which aimed to reposition the business and in particular strengthen its weighting in southern and eastern Europe.

Amcor Flexibles Food managing director Gérard Blatrix said: “Amcor is focusing its businesses strategically to deal with end user’s in selective market segments. AF Camvac does not operate in these segments but is a profitable business.

“The future outlook for the business is sound but it was felt that it would thrive better under a shareholder for whom the business would be a strategic asset. Gil is providing this environment.

“We thank everyone at AF Camvac for the contribution they have made in the past for Amcor and wish them all well for the future under their new ownership.”

Gil Investments specialises in UK manufacturing investments and in the plastics arena its interests include Silkjet (Leicester), an injection mouldings company, rubber firm VIP-Polymers in Cambridgeshire and Total Polyfilm.

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