Amcor announces acquisition of scalable flexible packaging plant in high-growth Indian market
- Acquisition will increase Amcor's capacity to satisfy high demand and drive strong returns for shareholders
- Phoenix Flexibles has delivered double-digit organic sales growth per annum over the last three years
- The acquisition adds advanced film technology and capabilities for more sustainable packaging solutions
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Phoenix Flexibles has one plant located in
Amcor currently has four flexible packaging plants in
The addition of Phoenix Flexibles' well capitalized and strategically located production facility will immediately increase Amcor's capacity to satisfy continued high demand and drive strong returns for shareholders. The acquisition also adds advanced film technology, enabling local production of a broader range of more sustainable packaging solutions, and brings capabilities allowing Amcor to expand its product offering in attractive high-value segments.
Amcor Flexibles Asia Pacific President Mike Cash said, "Amcor continues to see substantial opportunities to grow our flexible packaging business in
The acquisition is subject to customary closing procedures and is expected to close in the September 2023 quarter.
ENDS
About Amcor
Amcor is a global leader in developing and producing responsible packaging solutions for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve supply chains through a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that is increasingly lighter weight, recyclable and reusable, and made using an increasing amount of recycled content. In fiscal year 2022, 44,000 Amcor people generated
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SOURCE Amcor
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