Amcor bids $2bn to acquire parts of Alcan Packaging

18 August 2009 14:25  [Source: ICIS news]

TORONTO (ICIS news)--Amcor has offered $2bn (€1.4bn) to acquire parts of Rio Tinto’s Alcan Packaging business, the Australia-based international packaging firm said on Tuesday.

Amcor was bidding for Alcan Packaging Global Pharmaceuticals, Alcan Packaging Food Europe, Alcan Packaging Food Asia and Alcan Packaging Global Tobacco, it said.

The parts of Alcan Packaging that Amcor offered to acquire generate some $4.1bn/year in sales and employ 14,000 people at 80 plants in 28 countries, it said.

The acquisition would create one of the world’s leading packaging companies and support Amcor’s objective to grow in its strategic business areas of flexible packaging and folding cartons packaging, it said.

Last month, US packaging firm Bemis acquired Alcan’s Food Americas business for $1.2bn.

Mining and metals firm Rio Tinto, which acquired its Canadian rival Alcan in 2007 for $38bn, had said at the time it planned to sell the Alcan packaging business.

($1 = €0.71)

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