Amcor Gets European Commission Approval for Alcan European Acquisition
A condition of this approval is Amcor agreeing to divest its Tobepal operation comprising two plants that have combined sales of approximately EUR110 million and produce a range of pharmaceutical, personal care and food packaging products.
16 Dec 2009 --- Amcor has received European Commission approval to proceed with the acquisition of the European businesses of Alcan Packaging that Amcor is purchasing from Rio Tinto Plc.
A condition of this approval is Amcor agreeing to divest its Tobepal operation comprising two plants that have combined sales of approximately EUR110 million and produce a range of pharmaceutical, personal care and food packaging products. The plants are located in Spain and are part of the Amcor Flexibles operations.
The divestment undertaking was required to meet the European Commissions’ concern relating to pharmaceutical sachet and aluminium cold-form foil products.
The transaction remains subject to regulatory approval in the United States and consultation with the European Works Council.
The combined Amcor and Alcan Packaging businesses in Europe currently have sales of approximately USD4.8 billion in 75 plants.
Amcor’s Managing Director and CEO, Mr Ken MacKenzie, said: “Receiving approval from the European Commission is an important step toward closing the Alcan Packaging acquisition. The two plants to be divested represent less than 5% of the combined sales in Europe and will not have a material affect on the synergies or operational improvements anticipated.”
