Amcor acquires Plastic Moulders Limited
Amcor has announced the acquisition of Plastic Moulders Limited, a Toronto-based rigid plastics business that manufactures containers and closures for the food and home and personal care markets in North America.
The CAD 38 million (USD 30 million) move will generate ‘considerable synergies in terms of procurement, manufacturing costs and overhead’ according to a statement released by Amcor.
Amcor CEO and Managing Director Ron Delia said: "The Amcor Rigid Plastics business has significant growth opportunities in market segments outside of the traditional non-alcoholic beverage markets. Our strategy to grow this business includes acquiring companies like Plastic Moulders that provide specialised manufacturing capabilities, which will enable Amcor to broaden our product offering for the benefit of current and future customers.
“Total sales into these markets are approximately $500 million inclusive of Plastic Moulders sales, and there are significant opportunities to build on this position with organic growth and further acquisitions. We welcome Plastic Moulders to the Amcor portfolio and are confident that this acquisition will generate strong returns for shareholders."