Amcor buys world-class scalable flexible packaging plant in Central Europe

Rhea-AI Summary

Amcor has successfully completed the acquisition of a flexible packaging plant in the Czech Republic, enhancing its capacity to meet rising customer demands in Europe, particularly in the coffee and pet food segments. This strategically located facility is expected to accelerate the company's growth momentum and offers scalable operations to establish a robust production hub. The acquisition aligns with Amcor's commitment to providing responsible packaging solutions and aims to generate strong returns for shareholders.

Positive

• Acquisition of a flexible packaging plant enhances capability to meet customer demand.
• Strategic location in the Czech Republic positions Amcor for organic growth in Europe.
• Ability to scale operations to serve attractive segments like coffee and pet food.

Negative

• None.

Investment supports customer demand across Europe in attractive segments, including coffee and pet food

ZURICH, Aug. 22, 2022 /PRNewswire/ -- Amcor (NYSE: AMCR) (ASX:AMC), a global leader in developing and producing responsible packaging solutions, today announced that it has closed the acquisition of a world-class flexible packaging plant located in the Czech Republic.

The strategic location of the site immediately increases Amcor's ability to satisfy strong demand and customer growth across its flexible packaging network in Europe.

"With this acquisition we are investing to accelerate the organic growth momentum of our flexibles business in Europe in attractive segments," said Michael Zacka, President, Amcor Flexibles Europe, Middle East & Africa. "The scalable nature of the acquired site and its attractive location further bolsters our ability to service strong customer demand and generate strong returns for Amcor shareholders."

The plant is a greenfield development commissioned by DG Pack in 2019 and features state-of-the-art specialized equipment for attractive segments including coffee and pet food. The land and buildings acquired also provide the option to significantly scale up operations and establish a highly efficient production hub.

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 $15 billion in annual sales from operations that span 220 locations in 43 countries.  NYSE: AMCR; ASX: AMC

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View original content:https://www.prnewswire.com/news-releases/amcor-buys-world-class-scalable-flexible-packaging-plant-in-central-europe-301609266.html

SOURCE Amcor

FAQ

What is the recent acquisition made by Amcor (AMCR)?

Amcor has acquired a flexible packaging plant in the Czech Republic to enhance its capabilities and meet customer demand in Europe.

How does the acquisition affect Amcor's operations in Europe?

The acquisition allows Amcor to accelerate organic growth and expand its operations in attractive segments such as coffee and pet food.

When was the acquisition of the flexible packaging plant by Amcor announced?

The acquisition was announced on August 22, 2022.

What benefits does Amcor anticipate from the new plant acquisition?

Amcor anticipates strong returns on investment, enhanced service capabilities, and the potential for scalable operations.