Amcor

Last updated

Amcor plc
Company type Public
ISIN JE00BJ1F3079
Industry Packaging
Founded1896;128 years ago (1896) in Melbourne, Australia
Headquarters Zürich, Switzerland
Key people
Peter Konieczny, Chief Executive Officer
Products Packaging
RevenueDecrease2.svg US$13.6 billion (2024)
Decrease2.svgUS$1.21 billion (2024)
Decrease2.svgUS$740 million (2024)
Total assets Decrease2.svgUS$16.5 billion (2024)
Total equity Decrease2.svgUS$3.95 billion (2024)
Number of employees
c. 41,000 (2024)
Website amcor.com
Footnotes /references
Financials as of 30 June 2024. [1]

Amcor plc is a global packaging company. It develops and produces flexible packaging, [2] rigid containers, specialty cartons, [3] closures and services for food, beverage, pharmaceutical, medical-device, home and personal-care, [4] and other products. [5]

Contents

The company originated in paper milling businesses established in and around Melbourne, Australia, during the 1860s which were consolidated as the Australian Paper Mills Company Pty Ltd, in 1896.

Amcor is a dual-listed company, being listed on the Australian Securities Exchange (ASX :  AMC) and New York Stock Exchange (NYSE: AMCR). As of 30 June 2024, the company employed 41,000 people and generated US$13.6 billion in sales from operations in some 212 locations in over 40 countries. [1]

Reflecting its global status, Amcor is included in several international stock market indices, including the Dow Jones Sustainability Index, CDP Climate Disclosure Leadership Index (Australia), the MSCI Global Sustainability Index, the Ethibel Excellence Investment Register, and the FTSE4Good Index Series.

Structure

Amcor has two reporting segments: Flexibles Packaging and Rigid Plastics. [6]

Flexibles Packaging develops and supplies flexible packaging and specialty folding cartons. It has four business units: Flexibles Europe, Middle East and Africa; Flexibles Americas; Flexibles Asia Pacific; and Specialty Cartons. [7]

Rigid Plastics is one of the world's largest suppliers of rigid plastic packaging. [8] It has four business units: North America Beverages; North America Specialty Containers; Latin America; and Bericap Closures.[ citation needed ]

History

Australian Paper Manufacturers was renamed Amcor Limited in 1986. Previously, the company manufactured pulp paper and paperboard products, along with metal can and flexible packaging. [9]

The printing paper divisions were spun-off into a new company, named Paperlinx, in April 2000. This demerger was intended to enable Amcor to focus on global packaging. [10]

Amcor's 45 percent interest in Kimberly-Clark Australia, a tissue and personal-care products company, was divested in June 2002. [11] [12]

Factory entrance of Amcor Flexibles Tscheulin Rothal GmbH in Teningen, Germany Tscheulin Werkseinfahrt.jpg
Factory entrance of Amcor Flexibles Tscheulin Rothal GmbH in Teningen, Germany
Amcor Rigid Plastics plant in Manchester, Michigan, United States Amcor Rigid Plastics plant Manchester Michigan.JPG
Amcor Rigid Plastics plant in Manchester, Michigan, United States

Mergers and acquisitions

In July 2002, Amcor acquired the rigid packaging and closures businesses of Schmalbach-Lubeca, headquartered in Ratingen, Germany. [11] This acquisition, at a cost of around $2.875 billion, made Amcor the largest manufacturer of PET (Polyethylene terephthalate) containers, globally. [13]

In 2007, Amcor sold its European PET business to La Seda, a Spain-based manufacturer. [14]

In February 2008, Amcor announced the construction of a 400,000-tonnes per annum recycled paper mill located at its existing paper mill in Botany, New South Wales. [15] The 'B9' paper machine, so named as it was the ninth paper machine to operate at the Botany Mill, was commissioned in 2012 and was officially opened by the Premier of New South Wales, Barry O'Farrell, on 1 February 2013. [15] The B9 paper machine produced enough paper to fulfill the company's Australasian paper requirements, and as a result, Amcor's other recycled paper mill in Fairfield, Victoria, closed in late 2012. [15]

In 2010, Amcor completed the acquisition of Alcan's food (Europe and Asia) and global pharmaceutical and tobacco businesses from Rio Tinto for US$2.03 billion. [16]

In 2011, Amcor acquired Marfred Industries, one of the largest independently owned packaging manufacturers and distributors in the United States. [17]

In 2012, Amcor acquired the business assets of Carter & Associates, a major distributor of Amcor glass wine, champagne and spirit bottles in New Zealand. [18]

In 2012, Amcor acquired the Aperio Group packaging company, adding further capability in Australia, New Zealand and Thailand. This company also acquired Uniglobe Packaging, a business based in Daman, north of Mumbai, India, in the same year. [19]

In December 2013, Amcor demerged its Australasia and Packaging Distribution (AAPD) business into a separate company called Orora, which is listed on the Australian Securities Exchange. [20] The spin-off allowed Amcor to focus on making flexible- and rigid-plastic packaging and tobacco packaging, mostly for overseas markets.

In 2015, Amcor's chairman, Graeme Liebelt, advised that Ken MacKenzie would retire as CEO effective 17 April 2015 and would be succeeded by Ron Delia. [21]

In July 2015, Nampak Flexibles, a flexible packaging business in South Africa was acquired by Amcor for US$22 million. [22]

In September 2015, the US$30 million acquisition of Souza Cruz's internal tobacco packaging operations in Brazil was completed. This acquisition aligned with Amcor's objective of growing in Latin America. [23]

In October 2015, the US$55 million acquisition of Encon, a privately owned preform manufacturing business in the United States, was completed. [24]

In December 2015, the US$45 million acquisition of Deluxe Packages was completed. The business operated one manufacturing plant in Yuba City, California. [25]

In May 2016, Amcor acquired Canadian company Plastics Moulders Limited for US$32 million. The rigid plastics business manufactured containers and closures for the food, home, and personal-care markets in North America from a single plant in Toronto. [26]

In June 2016, Amcor acquired Alusa, the largest flexible packaging business in South America for a purchase price of US$435 million. It was the largest flexible packaging manufacturer and supplier in Chile and Peru, and a participant in Colombia and Argentina, with one plant in each of these four countries. [27]

In November 2016, the specialty containers business of Sonoco Products Company, a manufacturer of specialty rigid plastic containers, was acquired by Amcor for US$280 million. The former Sonoco business had six production sites in the United States and one in Canada. [28]

In January 2017, Amcor acquired Qite for US$28 million. The North China business produced flexible packaging products to large domestic customers in the dairy and food segments. [29]

In May 2017, Amcor acquired Plasticos, a specialty container business, from a leading food producer in Colombia. The acquisition expanded Amcor’s specialty container product offerings in Latin America, including thin-wall injection moulding and in-mould labelling. [30]

In August 2018, Amcor announced the acquisition of Bemis Company, a US-based manufacturer, through the acquisition of US$5.25 billion in shares. [31] Amcor purchased Marfred Industries in 2018, making it one of the largest independently held package makers and distributors in the United States.

In August 2023, it was announced Amcor had acquired the Gujarat-based flexible packaging company, Phoenix Flexibles, for an undisclosed amount. [32]

Products

Amcor develops and produces packaging for use with snacks and confectionery, cheese and yoghurt, fresh produce, beverage and pet food products, and rigid-plastic containers for brands in the food, beverage, pharmaceutical, and personal and home-care segments. [33]

The company's global pharmaceutical packaging addresses requirements for unit doses, safety, patient compliance, anti-counterfeiting and sustainability. [34]

Amcor's specialty cartons made from plastic materials are used for a variety of end markets, including pharmaceutical, healthcare, food, spirits and wine, personal and home-care products.[ citation needed ] Amcor also develops and makes wine and spirit closures. [35]

In February 2018, the company commercialised its Liquiform technology, which uses the packaged product instead of compressed air to simultaneously form and fill plastic containers and eliminates costs associated with traditional blow-molding, as well as handling, transporting, and warehousing empty containers. [36]

Controversies

In 2001, Amcor was fined A$10,000 by EPA Victoria for pollution. [37]

In 2006, a Four Corners story, titled The A Team, revealed the controversial methods used by Amcor to influence forestry policies. [38]

In 2007, following investigations by the Australian Competition & Consumer Commission, Amcor and Visy were found to have engaged in price fixing and market sharing in the market for the supply of corrugated fibreboard packaging. [39] In 2007, Amcor was convicted by the Heidelberg Magistrates' Court for releasing oil to the Yarra River from its Alphington plant and fined $80,000. [40]

In 2021, Amcor was ranked seventh on Michael West's "Top 40 Tax Dodgers in Australia". [41]

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References

  1. 1 2 "Amcor plc 2024 Annual Report". U.S. Securities and Exchange Commission. 16 August 2024. Retrieved 16 August 2024.
  2. ↑ "Flexible Packaging". Amcor. Archived from the original on 27 September 2022. Retrieved 21 May 2018.
  3. ↑ "Specialty Cartons". Amcor. Archived from the original on 21 May 2018. Retrieved 21 May 2018.
  4. ↑ "Closures". Amcor. Archived from the original on 21 May 2018. Retrieved 21 May 2018.
  5. ↑ "Amcor around the globe". Amcor. Archived from the original on 25 September 2017. Retrieved 4 May 2018.
  6. ↑ "2019 Annual Report" (PDF).
  7. ↑ "Amcor reports first half results and improved outlook for fiscal 2020". AP NEWS. 11 February 2020. Archived from the original on 13 September 2023. Retrieved 19 August 2020.
  8. ↑ "Spotlight on...Rigid Plastics Packaging in 2017". PackagingNews. 6 January 2017. Archived from the original on 21 August 2018. Retrieved 4 May 2018.
  9. ↑ "Australian Paper Manufacturers Ltd (APM)". Corporate entry - Encyclopedia of Australian Science. Retrieved 10 July 2011.
  10. ↑ "Group History". Paperlinx . Archived from the original on 25 July 2011. Retrieved 10 July 2011.
  11. 1 2 "Amcor acquires Schmalbach-Lubeca operations". Packaging World. Archived from the original on 13 September 2023. Retrieved 5 May 2018.
  12. ↑ "Kimberly-Clark Completes Acquisition of K–C Australia". Kimberly-Clark. Archived from the original on 22 May 2018. Retrieved 5 May 2018.
  13. ↑ "Eastern Europeans Balk at PET Barrier Bottles". plasticstoday.com. 1 July 2003. Archived from the original on 13 September 2023. Retrieved 19 August 2020.
  14. ↑ "Amcor sells Euro business for $676m". The Sydney Morning Herald . 2 July 2007. Archived from the original on 26 September 2017. Retrieved 26 September 2017.
  15. 1 2 3 "Recycled paper mill opens in NSW". sustainabilitymatters.net.au. Archived from the original on 22 March 2016. Retrieved 19 August 2020.
  16. ↑ "Amcor acquires majority Alcon Packaging businesses from Rio Tinto". New Statesman. 15 February 2010. Archived from the original on 26 May 2010. Retrieved 15 February 2010.
  17. ↑ Bakery and snacks.com. "Amcor eyes global benefits with US packager and distributor acquisition". Archived from the original on 6 February 2013. Retrieved 7 October 2016.
  18. ↑ "New Zealand Wine Grower April - May 2012". Issuu. Archived from the original on 13 September 2023. Retrieved 5 May 2018.
  19. ↑ "Acquisition of Aperio Group Completed". Amcor. 14 May 2012. Archived from the original on 25 September 2017. Retrieved 25 September 2017.
  20. ↑ "Demerged Amcor arm to be called Orora". The Sydney Morning Herald . Australian Associated Press. 24 October 2013. Archived from the original on 25 September 2017. Retrieved 25 September 2017.
  21. ↑ "CEO Retirement & Appointment". Amcor.com. Archived from the original on 25 September 2017. Retrieved 25 September 2017.
  22. ↑ "Amcor acquires Nampak Flexible". Australian Manufacturing. 5 July 2015. Archived from the original on 31 August 2018. Retrieved 4 May 2018.
  23. ↑ "Amcor pays $US30m for Souza Cruz in Brazil". The Sydney Morning Herald. 9 April 2015. Archived from the original on 9 February 2019. Retrieved 5 May 2018.
  24. ↑ "Amcor Acquires Encon's Preform Manufacturing Business". ink world. Archived from the original on 21 May 2018. Retrieved 4 May 2018.
  25. ↑ "Amcor-acquires-Deluxe-Packages-for-45m". Bakery and snacks.com. Archived from the original on 21 January 2021. Retrieved 5 May 2018.
  26. ↑ "Amcor buys Canadian plastics firm Plastic Moulders for $32m". The Sydney Morning Herald. 11 May 2016. Archived from the original on 6 July 2018. Retrieved 4 May 2018.
  27. ↑ "Amcor outlays $567m for South American packager Alusa". The Sydney Morning Herald. 18 April 2016. Archived from the original on 21 May 2018. Retrieved 4 May 2018.
  28. ↑ "Sonoco agrees to sell rigid plastics blow molding operations to Amcor". Reuters . Archived from the original on 21 May 2018. Retrieved 4 May 2018.
  29. ↑ "Amcor continues buying spree with Chinese packaging acquisition". Plastics Today. 10 November 2016. Archived from the original on 6 July 2018. Retrieved 4 May 2018.
  30. ↑ "Amcor buys Colombian packaging plant". SBS World News . Archived from the original on 31 August 2018. Retrieved 4 May 2018.
  31. ↑ "Packaging group Amcor aims to wrap up rival Bemis for $5.25 billion". Reuters. 6 August 2018. Archived from the original on 19 July 2019. Retrieved 28 June 2019.
  32. ↑ "Amcor to acquire Phoenix Flexibles". FoodBev Media. 14 August 2023. Archived from the original on 13 September 2023. Retrieved 14 August 2023.
  33. ↑ "Packing Strategies eBook" (PDF). Archived (PDF) from the original on 16 January 2022. Retrieved 19 August 2020.
  34. ↑ "Sustainability of supply, compliance issues take precedence". Healthcare Packaging. 21 April 2011. Archived from the original on 13 September 2023. Retrieved 19 August 2020.
  35. ↑ "Leading winemakers endorse quality of Amcor closures". Packaging Strategies. Archived from the original on 9 January 2018. Retrieved 5 May 2018.
  36. ↑ "Amcor Launches First Commercial Container Using LiquiForm Technology". ink world. Archived from the original on 21 May 2018. Retrieved 5 May 2018.
  37. ↑ "Troubled mill won't be rushed out". Sydney Morning Herald . 16 June 2011. Archived from the original on 7 May 2018. Retrieved 5 May 2018.
  38. ↑ "The A Team". Four Corners . ABC. Archived from the original on 19 April 2017. Retrieved 1 August 2017. Conservationists now decry "dirty tricks", but organisers insist they were simply playing green activists at their own game: smart, tough politics.
  39. ↑ "ACL Australian Competition Law". ACCC v Visy Industries Holdings Pty Ltd (No 3). Archived from the original on 9 May 2018. Retrieved 4 May 2018.
  40. ↑ "Amcor Packaging (Australia) Pty Ltd (ACN 004 275 165)". Environment Protection Authority Victoria. Archived from the original on 21 May 2018. Retrieved 9 May 2018.
  41. ↑ "Revealed: Australia's Top 40 Tax Dodgers for 2021". 14 January 2021. Archived from the original on 14 January 2021. Retrieved 16 January 2021.

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