Amcor
Encyclopedia
Amcor Limited is an Australian-based multinational packaging company. Its headquarters are in Hawthorn, Victoria
(a suburb of Melbourne
); and it is listed on the Australian Securities Exchange
.
It operates manufacturing plants in 42 countries, and has approximately 30,000 employees and annual sales of US$7,280 million and has a market value of US$5,020 million. Along with the privately held VISY group, it dominates the Australian cardboard packaging market, and it is the world's largest manufacturer of plastic bottles. Amcor limited holds the 927th position in the Forbes 2000.
In April 2000, Amcor demerged its printing papers business to focus on its global packaging operations. The spin-off company was named Paperlinx
.
In 2001, Amcor was fined A$10,000 by EPA Victoria
for pollution.
Amcor's 45% interest in Kimberly-Clark Australia, a tissue and personal care products company, was divested in June 2002.
In July 2002 Amcor acquired the PET and Closures businesses of Schmalbach-Lubeca, headquartered in Ratingen, Germany. This acquisition, at a cost of around $2.875 billion, makes Amcor the largest PET manufacturer globally.
Amcor announced in February 2008 the construction of a new 345,000 tonnes per annum paper recycled mill located at its existing carton board mill at Botany, NSW. When the new mill is completed, it will have the largest carton board machine in Australia . Amcor also indicated that it will close the existing mill at Botany and Victorian Fairfield mill. once the new mill is operational. However, August 2009 saw Amcor announce that it had temporarily delayed the project while costs were renegotiated with the constructor, Baulderstone - Bilfinger Berger Joint Venture.
In February 2009, it was confirmed by Julie McPherson (Group Company Secretary) that Amcor was negotiating the possible takeover of some flexible packaging assets from the Rio Tinto group.
On 18 August 2009, Amcor announced an offer to acquire a range of Alcan packaging assets from Rio Tinto. There is an estimated purchase price of A$2 billion for the food, beverage, tobacco and pharmaceutical businesses.
In 2010 Amcor completed the acquisition of Alcan Packaging food Europe, food Asia, global pharmaceutical, and global tobacco businesses from Rio Tinto for a total consideration of $1.95bn
was investigating the company for engaging in cartel
practices. Such practices are a serious breach of Australia's corporate laws. News of the investigation came to light after the company sued five former executives in an attempt to prevent them providing information and documents to the relevant regulator, the Australian Competition and Consumer Commission
..
In 2007, Amcor sold its European bottle/preform business to La Seda, a Spanish based resin manufacturer.
In April 2007, Amcor was fined for polluting the Yarra by discharging paper pulp from its Alphington plant and fined A$5000 by EPA Victoria..
In 2008, Amcor was convicted by the Heidelberg Magistrates’ Court for releasing oil to the Yarra River
from its Alphington
plant and fined $80,000.
Hawthorn, Victoria
Hawthorn is a suburb in Melbourne, Victoria, Australia, east from Melbourne's central business district. Its Local Government Area is the City of Boroondara...
(a suburb of Melbourne
Melbourne
Melbourne is the capital and most populous city in the state of Victoria, and the second most populous city in Australia. The Melbourne City Centre is the hub of the greater metropolitan area and the Census statistical division—of which "Melbourne" is the common name. As of June 2009, the greater...
); and it is listed on the Australian Securities Exchange
Australian Securities Exchange
The Australian Securities Exchange was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006. It is the primary stock exchange group in Australia....
.
It operates manufacturing plants in 42 countries, and has approximately 30,000 employees and annual sales of US$7,280 million and has a market value of US$5,020 million. Along with the privately held VISY group, it dominates the Australian cardboard packaging market, and it is the world's largest manufacturer of plastic bottles. Amcor limited holds the 927th position in the Forbes 2000.
History
Amcor Limited was formed in 1986 when Australian Paper Manufacturers was renamed. The company manufactured pulp paper and paperboard products, along with metal can and flexible packaging.In April 2000, Amcor demerged its printing papers business to focus on its global packaging operations. The spin-off company was named Paperlinx
Paperlinx
PaperlinX is a fine paper wholesaler based in Melbourne, Australia. PaperlinX has regional offices in Amsterdam, Los Angeles and Singapore.merchants. The company is a distributor of specialty paper used in brochures, magazines, annual reports and other business papers...
.
In 2001, Amcor was fined A$10,000 by EPA Victoria
Environment Protection Authority (Victoria)
EPA Victoria is a statutory authority that reports to the Victorian Parliament through the . Its purpose is to protect, care for and improve the environment for the benefit of the Victorian community.-Overview:...
for pollution.
Amcor's 45% interest in Kimberly-Clark Australia, a tissue and personal care products company, was divested in June 2002.
In July 2002 Amcor acquired the PET and Closures businesses of Schmalbach-Lubeca, headquartered in Ratingen, Germany. This acquisition, at a cost of around $2.875 billion, makes Amcor the largest PET manufacturer globally.
Amcor announced in February 2008 the construction of a new 345,000 tonnes per annum paper recycled mill located at its existing carton board mill at Botany, NSW. When the new mill is completed, it will have the largest carton board machine in Australia . Amcor also indicated that it will close the existing mill at Botany and Victorian Fairfield mill. once the new mill is operational. However, August 2009 saw Amcor announce that it had temporarily delayed the project while costs were renegotiated with the constructor, Baulderstone - Bilfinger Berger Joint Venture.
In February 2009, it was confirmed by Julie McPherson (Group Company Secretary) that Amcor was negotiating the possible takeover of some flexible packaging assets from the Rio Tinto group.
On 18 August 2009, Amcor announced an offer to acquire a range of Alcan packaging assets from Rio Tinto. There is an estimated purchase price of A$2 billion for the food, beverage, tobacco and pharmaceutical businesses.
In 2010 Amcor completed the acquisition of Alcan Packaging food Europe, food Asia, global pharmaceutical, and global tobacco businesses from Rio Tinto for a total consideration of $1.95bn
Controversies
In December 2004, the CEO, Russell Jones, resigned on the request of the board after press reports revealed that the Australian Competition and Consumer CommissionACCC
ACCC may refer to:In Education:* Association of Canadian Community Colleges, a national association formed in 1972 to represent the interests of its member institutions to government and industry....
was investigating the company for engaging in cartel
Cartel
A cartel is a formal agreement among competing firms. It is a formal organization of producers and manufacturers that agree to fix prices, marketing, and production. Cartels usually occur in an oligopolistic industry, where there is a small number of sellers and usually involve homogeneous products...
practices. Such practices are a serious breach of Australia's corporate laws. News of the investigation came to light after the company sued five former executives in an attempt to prevent them providing information and documents to the relevant regulator, the Australian Competition and Consumer Commission
ACCC
ACCC may refer to:In Education:* Association of Canadian Community Colleges, a national association formed in 1972 to represent the interests of its member institutions to government and industry....
..
In 2007, Amcor sold its European bottle/preform business to La Seda, a Spanish based resin manufacturer.
In April 2007, Amcor was fined for polluting the Yarra by discharging paper pulp from its Alphington plant and fined A$5000 by EPA Victoria..
In 2008, Amcor was convicted by the Heidelberg Magistrates’ Court for releasing oil to the Yarra River
Yarra River
The Yarra River, originally Birrarung, is a river in east-central Victoria, Australia. The lower stretches of the river is where the city of Melbourne was established in 1835 and today Greater Melbourne dominates and influences the landscape of its lower reaches...
from its Alphington
Alphington, Victoria
Alphington is a suburb in Melbourne, Victoria, Australia, 7 km north-east from Melbourne's central business district. Its Local Government Area are the Cities of Darebin and Yarra. At the 2006 Census, Alphington had a population of 4,483...
plant and fined $80,000.
Further reading
- E.K. Sinclair, "The Spreading Tree, A history of APM and Amcor 1844-1989", Allen and Unwin, 1990