Manufacturing Industry
Amcor sets sights on Alcoa's S. American PET bottle unit.(News)(Amcor PET Packaging)
Plastics News, June, 2003 by Pryweller, Joseph
Byline: Joseph Pryweller Amcor PET Packaging plans to buy the plastic container assets of Alcoa Inc. in South America, significantly strengthening Amcor's PET foothold in that region. Amcor, based in Melbourne, Australia, will pay A$115 million (US$76 million) to buy the PET bottle operations, which reported sales of about US$130 million last year, according to Pittsburgh-based Alcoa.
The deal includes PET blow molding and preform injection molding operations that currently are performed at nine Alcoa facilities spread across six countries. Alcoa will keep five of the plants that also make caps and closures. Amcor will move PET-related equipment from those sites to Amcor plants in South America, Amcor spokeswoman Shelley Steele said in a June 2 telephone...
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