Last updated: 20-12-2013
News type: ASX Announcements
Amcor announces today that it has entered into an asset purchase agreement with Constar International Holdings LLC ("Constar") to acquire certain of its US business assets.
The US business currently operates six plants with annualised sales of approximately US$190 million and has an attractive fit with Amcor Rigid Plastics.
The transaction is expected to be consummated through a court-supervised process under Section 363 of the US Bankruptcy Code which is anticipated to conclude during the first quarter of 2014.
Following the conclusion of the bankruptcy process further details, including final acquisition pricing, will be released to the market.