| Type | public (ASX: AMC) |
|---|---|
| Industry | Packaging |
| Founded | As Australian Paper Manufacturers - 1860 As Amcor - 1986 |
| Headquarters | Hawthorn, Victoria, Australia |
| Key people | Ken MacKenzie, CEO & Managing Director |
| Products | Packaging |
| Website | http://www.amcor.com |
Amcor Limited (ASX: AMC) is an Australian-based multinational packaging company. Its headquarters are in Hawthorn, Victoria (a suburb of Melbourne)[1]; and it is listed on the Australian Securities Exchange.
It operates manufacturing plants in 42 countries, and has approximately 30,000 employees and annual sales of US$7,280 million and has a market value of US$5,020 million. Along with the privately held VISY group, it dominates the Australian cardboard packaging market, and it is the world's largest manufacturer of plastic bottles. Amcor limited holds the 927th position in the Forbes 2000.
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Amcor Limited was formed in 1986 when Australian Paper Manufacturers was renamed. The company manufactured pulp paper and paperboard products, along with metal can and flexible packaging.[2]
In April 2000, Amcor demerged its printing papers business to focus on its global packaging operations. The spin-off company was named Paperlinx.[3]
In 2001, Amcor was fined A$10,000 by EPA Victoria for pollution.[4]
Amcor's 45% interest in Kimberly-Clark Australia, a tissue and personal care products company, was divested in June 2002.
In July 2002 Amcor acquired the PET and Closures businesses of Schmalbach-Lubeca, headquartered in Ratingen, Germany. This acquisition, at a cost of around $2.875 billion, makes Amcor the largest PET manufacturer globally.
Amcor announced in February 2008 the construction of a new 345,000 tonnes per annum paper recycled mill located at its existing carton board mill at Botany, NSW. When the new mill is completed, it will have the largest carton board machine in Australia [5]. Amcor also indicated that it will close the existing mill at Botany and Victorian Fairfield mill.[6] once the new mill is operational. However, August 2009 saw Amcor announce that it had temporarily delayed the project while costs were renegotiated with the constructor, Baulderstone - Bilfinger Berger Joint Venture.[7][8]
In February 2009, it was confirmed by Julie McPherson (Group Company Secretary) that Amcor was negotiating the possible takeover of some flexible packaging assets from the Rio Tinto group. [9]
On 18 August 2009, Amcor announced an offer to acquire a range of Alcan packaging assets from Rio Tinto. There is an estimated purchase price of A$2 billion for the food, beverage, tobacco and pharmaceutical businesses. [10]
In 2010 Amcor completed the acquisition of Alcan Packaging food Europe, food Asia, global pharmaceutical, and global tobacco businesses from Rio Tinto for a total consideration of $1.95bn [11]
In December 2004, the CEO, Russell Jones, resigned on the request of the board after press reports revealed that the Australian Competition and Consumer Commission was investigating the company for engaging in cartel practices. Such practices are a serious breach of Australia's corporate laws. News of the investigation came to light after the company sued five former executives in an attempt to prevent them providing information and documents to the relevant regulator, the Australian Competition and Consumer Commission.[12].
In 2007, Amcor sold its European bottle/preform business to La Seda, a Spanish based resin manufacturer.
In April 2007, Amcor was fined for polluting the Yarra by discharging paper pulp from its Alphington plant and fined A$5000 by EPA Victoria.[13].
In 2008, Amcor was convicted by the Heidelberg Magistrates’ Court for releasing oil to the Yarra River from its Alphington plant and fined $80,000.[14]