Amcor sells its US stake

Friday, 28 February, 2003

Amcor has moved to consolidate its northern hemisphere closures manufacturing operations, by announcing the sale of its 65% stake of Amcor White Cap LLC for AU$66 million.

Amcor said its stake in the plastic and metal closures producer would be bought by Silgan Holdings, the owner of the remaining 35% of Amcor White Cap.

The business makes products used to package food and drink, and comprises seven plants - six in the United States and one in Mexico.

The packaging company said it would continue to develop its position in the fast-growing plastic closures market in North America through its joint venture partner Bericap.

The company also intended to hold onto its 100% ownership of European and Asian metal closures operations as well as small facilities in Brazil and Venezuela.

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