Amcor Gains Go Ahead for Purchase of Alcan Medical Flexibles Operations
Amcor announced it has received approval from the US Department of Justice to acquire Alcan’s Medical Flexibles operations from Rio Tinto as part of the Alcan Packaging acquisition. The Medical Flexibles business consists of four plants in North America, and approval is conditional on divesting one of the plants, which is located in Marshall, NC.
Amcor will initially acquire all four plants for $66 million, with expected closure on July 1, 2010. The divestment process for the Marshall operation will commence immediately and, until completed, Amcor is required to hold and operate Marshall separately from its other businesses, Amcor said.
The Alcan Packaging acquisition announced in August 2009 consisted of approximately 80 plants and sales of approximately $4.6 billion. The combined Medical Flexibles business has annual sales of approximately $115 million, of which the Marshall operation accounts for approximately $30 million, Amcor said.
The three operations to be retained by Amcor produce a range of medical flexible packaging products.
“It is pleasing that the regulatory processes relating to the Alcan acquisition are now complete and that we have been successful in acquiring 79 of 80 plants, and $4.6 billion in sales,” said Ken MacKenzie, Amcor’s managing director and ceo.