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Amcor: offer from Nipro Corporation for Glass Tubing business

Amcor has announced that Nipro Corporation has offered to purchase the Amcor Glass Tubing business for USD 161 million. The Glass Tubing business was acquired with the former Alcan Packaging asset an…

Amcor has announced that Nipro Corporation has offered to purchase the Amcor Glass Tubing business for USD 161 million. The Glass Tubing business was acquired with the former Alcan Packaging assets and had sales of approximately USD 66 million for the six months ended 31 December 2010. Amcor and Nipro have agreed to a period of exclusivity, and Amcor will respond to this offer following consultation with the relevant European works councils. The profit on sale before tax, reported as a significant item on completion, would be approximately USD 90 million. Completion of the potential transaction would be subject to customary closing conditions.

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