Amcor to shut down plants in Europe
The worlds largest packaging producer Amcor has announced to structure or close several plants in developed markets. Collectively these initiatives are expected to generate a pre-tax return of approximately 35% on the cash invested within three years, delivering a profit before interest and tax benefit of US$40 million to US$50 million. The total cash investment is expected to be US$120 million to US$150 million across the 2017 and 2018 financial years.
Combined with the benefits from the recent Alusa acquisition, the flexibles segment is expected to deliver pre-tax earnings growth of more than US$100 million over the next 3 years.