Amcor announces acquisition of scalable flexible packaging plant in high-growth Indian market

Amcor (NYSE:AMCR, ASX:AMC), a global leader in developing and producing responsible packaging solutions, today announced it has entered into an agreement to acquire Phoenix Flexibles, expanding Amcor’s capacity in the high-growth Indian market.

Phoenix Flexibles has one plant located in Gujarat, India, and the business generates annual revenue of approximately US$20 million from the sale of flexible packaging for food, home care and personal care applications.

Amcor currently has four flexible packaging plants in India. The business has delivered double-digit organic sales growth per annum over the last three years, significantly outpacing growth in the underlying market, and is also investing to double its local footprint in the Pharmaceutical and Medical packaging categories.

The addition of Phoenix Flexibles’ well capitalized and strategically located production facility will immediately increase Amcor’s capacity to satisfy continued high demand and drive strong returns for shareholders. The acquisition also adds advanced film technology, enabling local production of a broader range of more sustainable packaging solutions, and brings capabilities allowing Amcor to expand its product offering in attractive high-value segments.
more at: https://www.amcor.com/media/news/amcor-phoenix-flexibles-high-growth-indian-market

Related Posts

Sealed Air Reports Q2 2024 Results

Second Quarter 2024 Financial Highlights: Net sales of $1.35 billion decreased 3% as reported, with EMEA decreasing 5%, APAC decreasing 3% and the Americas decreasing 2%. Net sales decreased $24 million, or 2%, on a constant dollar basis. Price had an unfavorable impact of $41 million, or 3%. Volumes increased by $18 million, or 1%. Net earnings were $98 million, or $0.67 per diluted share, as compared to net earnings of $94 million, or $0.65 per diluted share in the prior year.

Flint Group Packaging Inks’ New Production Site On Track For Completion

Flint Group Packaging Inks, a leading provider of print consumables and equipment for the global packaging industry, has confirmed that its new Russian production site is on track for completion despite the challenges of the Covid-19 pandemic. Developed to support Flint Group Packaging Inks’ customers, the new facility, located south west of Moscow in the Kaluga region, further strengthens the company’s leading supply position in the strategically essential Russian packaging market. Importantly, the investment brings the company closer to its customer base by facilitating greater localisation of manufacturing, technical and commercial services and is perfectly positioned to service both local and international package printers.
Back To Top
×Close search
Search