Anglo-Australian mining giant Rio Tinto is preparing to sell its $5bn packaging business, to help defend itself against a fresh takeover bid from competitor BHP Billiton.
The company has appointed investment bank Morgan Stanley to kick start the sales process, according to UK newspaper The Daily Telegraph.
The investment bank is likely to advise breaking up the unit to make it easier for private equity buyers to carry out a deal, writes the newspaper.
ANIT-COUNTERFEIT FILM PRODUCTS TO LEAD FLEXIBLE PACKAGING MARKET
Chinese packaging-film company Shiner International says it expects the anti-counterfeit film products market to lead revenue growth this year, providing a catalyst for long-term expansion.
Shiner anticipates 12% growth in the overall worldwide flexible packaging market with the anti-counterfeit packaging predicted to increase due to demand from the high-end branded liquor, tobacco and entertainment markets, which are pushing to prevent counterfeiting and ensure product safety.
The company predicts 2008 profit will be $8m to $9m, or 31¢ to 35¢ a share, representing an increase of 76% to 98% from last year's $4.5m profit.
Shiner plans to expand its production capacity to 28,100t this year from 17,200t to meet higher sales targets.
SAINT-GOBAIN'S PACKAGING SECTOR EXPANDS GROWTH IN RUSSIA
Saint-Gobain's German packaging division Saint-Gobain Oberland AG, has signed an agreement to purchase a majority stake in Russian glassworks company ZAO Kamyshinsky Steklotarny Zawod.
Located in the Volgograd region, ZAO produces jars as well as clear glass bottles for the food and beverage industries.
Finalisation of the deal is subject to approval from the Russian authorities.
LINPAC ALLIBERT SHUTS RETURNABLE PACKAGING SITES
Linpac Allibert, the materials handling division of Linpac Group, is to close its plants in Walsall and Cheshire, halving the workforce at its UK plastics returnable packaging business.
The company, which plans to centralise its operations in Winsford, UK, will create around 100 new manufacturing and warehousing jobs.
All machines and tooling will be moved to Winsford, where the firm aims to create a 'centre of excellence' for its reusable packaging products, the company says.
The firm is due to release redundancy figures in April this year.
NEW CLUB PROMOTES PACKAGING INNOVATION
Mintel Research Consultancy is launching a packaging innovation club for businesses involved in the consumer goods packaging industry.
The Packaging Appreciation Club has been introduced by Mintel's research division in response to clients' requests for examples of innovative packaging which use new formats, designs or materials.
Club members can expect to be sent a selection of new products from around the world with original packaging designs which stand out from the crowd, says Mintel.
The club is open to any business of any size involved in the FMCG packaging industry.
Source: packaging-technology
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