Australian-based Amcor is to sell two European packaging plants to private equity firm Accent as part of an ongoing restructure of its European flexibles business.
The box and packaging giant will sell the plants in Lund, Sweden, and Somerset in the UK, for an undisclosed price.
The two plants produce mainly unprinted films for the meat and fish sector, with combined sales of about €85m.
According to AAP, about 900 jobs are to be cut, with more plant closures and asset sales to come over the next 12 months.
Earlier this month, Amcor invested €25m to build a new plant in Poland, including the relocation of its current flexibles plant in the same town.
CROWN HOLDINGS PROFITS RISE
US-based global packaging group Crown Holdings has reported a nine percent rise in net sales to US$1,863m, over US$1,713m in the first quarter of 2007, due to foreign currency translation and higher cost of raw materials.
First quarter gross profit rose 19.1 percent to US$256m over US$215m in the same quarter last year.
Crown's European beverage business reported net sales of US$348m in the first quarter, compared with US$281m in the same period last year.
Net sales in the its European specialty packaging division were US$105m, up from US$97m this time last year with profit remaining stable at US$1m.
Lower manufacturing costs, ongoing efficiency improvements and US$15m from foreign currency translation are the driving force behind the improvement, says the company.
PACKAGING SUPPLIERS WARNED TO CHECK REACH RULES
Packaging companies must ensure their suppliers are aware of the imminent pre-registration period for new European chemicals laws, or risk chemicals being taken off the market.
About 30,000 chemicals, such as acids, metals, solvents, surfactants and glues, must be pre-registered with the European Chemicals Agency (ECHA) from 1 June to 1 December 2008, to comply with the Registration, Evaluation and Authorisation of Chemicals Legislation(Reach).
Reach requires all chemicals of one tonne or more that have been manufactured in or imported into the EU are registered with the ECHA.
Pre-registration allows companies to submit their complete registration dossiers in the pre-registration period by the deadlines of 2010, 2013 or 2018.
Source: packaging-technology
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