Amcor Offers to Acquire Parts of Alcan Packaging

    MELBOURNE, Aug. 18 /CNW/ - Amcor has offered to acquire parts of Alcan
Packaging for US$2025 million from Rio Tinto. The Alcan Packaging businesses
which Amcor has agreed to acquire include: Alcan Packaging Global
Pharmaceuticals, Alcan Packaging Food Europe, Alcan Packaging Food Asia and
Alcan Packaging Global Tobacco.
    The combined company will be one of the world's leading packaging
companies with significant breadth of expertise, products and services. As at
June 2009, Amcor generated AU$9.53 billion in sales from operations in 34
countries and has 226 sites worldwide, with approximately 21,000 employees.
The parts of Alcan Packaging that Amcor has offered to acquire would add
approximately US$4.1 billion in sales and 14,000 employees across 80 plants in
28 countries.
    The proposed acquisition will also support Amcor's stated objective of
growing in its strategic business areas of flexible packaging and folding
cartons packaging. It reaffirms the company's commitment to the packaging
    According to Amcor Managing Director and Chief Executive Officer, Ken
MacKenzie, "We believe that this acquisition will bring customers of both
Amcor and Alcan Packaging even greater value through broader offerings and
enhanced customer service. Critically, beyond the hard assets, the combined
company will draw on the best people from both organisations to drive these
    Amcor is in a solid financial position as a result of "The Way Forward",
Amcor's get-fit program initiated in 2005. This program was designed to
improve core competencies across a range of disciplines and to create a more
focused portfolio of businesses. Improvements in capital discipline and cost
controls have ensured that the company is in a good position to take advantage
of acquisition opportunities.
    "While these are difficult economic times globally, Amcor is in a solid
financial position," said Mr. MacKenzie. "We made the tough decisions several
years ago to reshape our company through focus and discipline. This
acquisition is a clear fit with our strategic growth plans, building greater
shareholder value by expanding our business whilst obtaining the economies of
scale that comes with an opportunity such as this."
    "Growing our businesses in a sustainable manner was always our stated
intention and we are pleased to have entered into this agreement. We are
committed to becoming a leader in the global packaging industry," said Mr.
    The acquisition is subject to regulatory approvals as well as
consultation with European Works Councils. Closing of the acquisition is not
expected to occur for several months. Until this time, both Amcor and Alcan
Packaging will continue to operate as separately run companies.

    About Amcor

    Amcor is a global packaging manufacturer offering a broad range of
plastic, fibre, metal and glass packaging products and associated packaging
related services. It operates through five substantial operating divisions
across Australasia, North America, Latin America, Europe and Asia. Amcor's
headquarters are in Melbourne, Australia. The company operates in 34 countries
with 226 sites across those countries and employs approximately 21,000 people
worldwide. For the year ended 30 June 2009, Amcor generated AUD $9.53 billion
in revenue. For more information visit

    About Rio Tinto

    Rio Tinto is a leading international mining group headquartered in the
UK, combining Rio Tinto plc, a London and NYSE listed company, and Rio Tinto
Limited, which is listed on the Australian Securities Exchange. Rio Tinto's
business is finding, mining, and processing mineral resources. Major products
are aluminium, copper, diamonds, energy (coal and uranium), gold, industrial
minerals (borax, titanium dioxide, salt, talc) and iron ore. Activities span
the world but are strongly represented in Australia and North America with
significant businesses in South America, Asia, Europe and southern Africa. For
more information visit

    About Alcan Packaging

    Alcan Packaging (Rio Tinto Group) is a world leader in value-added
specialty packaging and delivering innovative solutions using plastics,
engineered film, aluminium, paper, paperboard and glass to customers around
the world. Alcan Packaging is headquartered in Paris, France. The Alcan
Packaging businesses which Amcor has offered to acquire have 14,000 employees
across 80 plants in 28 countries. For more information visit

For further information:

For further information: Amcor Corporate, Amcor in Australia, New
Zealand and Asia, John Murray,, Ph: +61 3 9226 9005;
Amcor Flexibles Food & Healthcare, Liesl Weber,, Ph: +32 2 416 26 39; Amcor Rentsch, (Tobacco
Packaging), Cassandra Biehler,, Ph: +41 0
79 717 2195; Amcor, PET Packaging, Shelley Steele,, Ph: (734) 302-2264

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