How does the Brexit affect Amcor?
According to a report from Citi analyst Richard Johnson, packaging producer Amcor will take a hit from volatile foreign exchange markets but should avoid any major calamities from Britain's so called Brexit from the European Union.
Amcor's direct exposure to the UK is at aroung AUD 439 million, a considerably low number for the world's largest packaging producer. Sales in Western Europe are USD 3,092 million, which accounts for 32% of the groups total revenue.
Amcor currently has eight plants in the UK. They are closing one tobacco carton plant, and are restructuring another. In Europe Amcor has 65 plants, 52 of these produced flexible packaging and 13 tobacco packaging.