Plastic packaging giant Pact Group Holdings Ltd is buying two Asian packaging companies under Reynolds Group Holdings Ltd.
Melbourne-based Pact Group, a publicly listed company, has spent $ 142 million (approximately $ 180 million) in acquiring the Asia-based plastic sealing business of the Reynolds group based in Lake Forest, Illinois, USA, and a hard-packing company in China Closure Systems International (CSI) in Asia, and Guangzhou Graham Packaging Products Co., Ltd., a manufacturer of plastic bottles and plastic caps, do not include the Graham Packaging Plant in Taizhou, China.
The filings with ASX reveal that the acquisition encompasses the Reynolds Group's vast majority of Asian packaging operations, except the Japanese market.
The CSI plants are located in Tianjin and Guangzhou in China; Calamba in the Philippines; South Korea's Gratitude; Bangalore in India; and Black Track in Nepal. The acquisition also includes regional headquarters and sales operations in Hong Kong.
The Reynolds Group has global operations but has a substantial presence in New Zealand and a head office in Auckland.
Pact chairman Raphael 杰明德 said the company also spent A $ 11.7 million acquisition of ECP Industries, a plastic barrel refurbisher headquartered in Forrestal, Australia. Jemmed said at the company's annual meeting on November 15 : 'The acquisition in Asia will create a platform to drive growth, deliver the existing business scale and strengthen our presence in the region. ECP Industries is an attractive company with the existing sustainability in Australia and New Zealand Business development is highly consistent.
Malcolm-Bundy, managing director and chief executive officer of Pact Group, added that the acquisition of the Reynolds Group's Asian operations "will provide a meaningful shift in our geographic diversity." He said these investments will continue to strengthen the company and Provide a 'strong platform' for long-term sustainable growth.
Pact's Asia business will grow from 3% to 12% and A $ 50 million to A $ 200 million Pact Group already has three plastic manufacturing plants in China and a joint venture in the Philippines, Thailand and Indonesia.
Bundy said the acquisition will make Pact a "regional leader in rigid plastic bottles and plastic covers," adding "significant expertise and intellectual property" to the company.
The acquisition will increase the number of employees at Pact 750. Currently, the company has more than 4,000 employees.
Pact says Asia CSI is a leader in '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' s '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' '' Completed in mid-month.