CHINA – Amcor Ltd is acquiring the Chinese subsidiary of British Polythene Industries PLC (BPI) for US$13 million.
For BPI, its investments in its Chinese subsidiary to grow the Australasian market have not yielded acceptable returns. “Progress has been slower than expected, despite an excellent record with product quality and service,” said BPI.
For Amcor, this acquisition will strengthen its position in southern China and complement the existing business “by providing additional scale and talent”, said the Australian company. It will also broaden Amcor's capabilities in China to include flexographic printing and reduce future capital expenditure requirements… For the full story, subscribe to Packaging Business Insight Asia here.