News

Linpac Group has put Viscount Plastics, its Australian and New Zealand business, up for sale to focus on its business in the Americas, Asia and Europe.

The sale will be managed by Deutsche Bank. It is thought that rival packaging groups such as Amcor, Visy and NCI and local private equity firms could be interested in Viscount, which accounts for 7% of Linpac Group's £1.1bn turnover. The transaction is expected to take about three months.

Linpac's owner, London-based Montagu Private Equity, paid £860m for the group in 2003. Linpac bought 51% of Viscount Plastics in 2001 after acquiring a 49% interest in the company in March 1999.

Viscount employs 600 people in Australia and New Zealand.

The firm makes blow-moulded containers and industrial packaging, as well as water tanks, plastic garden furniture, crates, buckets and plastic bottles.

Key markets include food retail and supply chain, water conservation, and specialist coating and adhesive packaging for the chemical sector.