Featured Suppliers:

Sponsored Links


 

Amcor Limited

Refined by:

  • Industry: Travel & Tourism   

 

AUSTRALIAN CO AMCOR SAYS Q1 TRADING IN LINE WITH EXPECTATIONS - Zibb.com

Australian packaging company Amcor Ltd (ASX:AMC) says its trading for the first quarter was consistent with its outlined expectations and full year earnings will depend on currency movements and the timing of the Alcan acquisition.

"Trading during the first quarter was consistent with expectations outlined at the full year results in August," managing director Ken MacKenzie told shareholders in Melbourne on Thursday.

"Volumes are generally lower than for the same time last year, however in most businesses, they appear to have stabilised at the current levels."

"At the full year results we stated that if economic conditions remained stable at current levels, earnings for the Australasian business were expected to be higher for the full year," he said.

"Given the solid start to the year, we remain confident of improved earnings."

Volumes are generally lower than for the same time last year, however in most businesses, they appear to have stabilised at the current levels, he said.

Amcor reported in August an 18.2 per cent fall in net profit to $A211.7 million (US$196.78 million) for the year to June 30 on lower underlying demand as customers reduced stocks across the supply chain.

Amcor also unveiled in August the $2.44 billion acquisition of Rio Tinto's packaging units, Alcan Packaging, which is expected boost Amcor's earnings by 40 per cent and means 85 per cent of earnings will come from offshore.

Mr MacKenzie told the annual general meeting on Thursday the deal was expected to be earnings per share accretive in the first full year of ownership, fiscal 2011.

Amcor said the full year impact on reported earnings due to the movement in the Australian dollar was uncertain.

"For the last nine months of the 2008/09 year the average exchange rate against the US dollar was approximately 70 cents and against the euro was approximately 53 cents."

"The current sensitivity in reported earnings to movements in the exchange rate is $3 million in profit after tax for every one cent movement against the US dollar and $3 million in profit after tax for every one cent movement against the euro.

"These sensitivities will increase following the completion of the Alcan Packaging acquisition."

The company said full year profit would depend on the exchange rate for these currencies over the next nine months as well as the exact timing of the closing of the Alcan Packaging acquisition.

At 1140 AEDT, Amcor shares were up nine cents or 1.6 per cent at $5.73.

(AAP)lm

Read more...

Tags: acquisition   australia   business   currency   dollar   earnings   net profit   packaging   profit   tax  

Companies: Amcor Ltd. (AMCRY)

 

AUSTRALIAN CO AMCOR SEES COMPLETION OF ALCAN DEAL AROUND JANUARY - Zibb.com

Australian company Amcor Ltd (ASX:AMC) managing director Ken MacKenzie says the group's $A2.44 billion (US$2.27 billion) acquisition of Rio Tinto's packaging unit, Alcan Packaging, is expected to be completed by January 1, plus or minus 30 days.

The deal, which was announced in August, will result in Amcor's gearing moving to 43.4 per cent, he said while speaking after the company's annual general meeting on Thursday.

Mr MacKenzie said Amcor was confident it would get 80 per cent of the promised $A200 million to $A250 million in cost synergies within first two years of the completion of the transaction.

He also said the company's 2009/10 net profit after tax depended upon currency movements and earnings from Alcan, but was not prepared to give estimates.

He also said exchange rate impacts at the completion of the deal may lower Amcor's earnings before interest, tax, depreciation and amortisation (EBITDA) multiple from a current 5.5 times to between 5.2 and 5.3 times.

He confirmed Amcor was facing a class action led by law firm Maurice Blackburn related to alleged price fixing in the packaging market.

(AAP)lm

Read more...

Tags: acquisition   australia   currency   earnings   ebitda   law   market   net profit   packaging   tax  

Companies: Amcor Ltd. (AMCRY)

 

Australian soda ash maker extends supply deal with Amcor - Zibb.com

Australian soda ash manufacturer PENRICE SODA HOLDINGS LTD (ASX:PSH) has announced an extended and expanded soda ash and limestone supply contract with one of its biggest customers, AMCOR LTD (ASX:AMC). Penrice said the contract with Amcor Glass, a division of AMCOR PACKAGING PTY LTD, extends and expands for two years an existing contract - now due to expire at the end of 2014.

* Penrice already supplies soda ash from its Adelaide chemicals plant to Amcor's wine bottle plant at Gawler, near the Barossa Valley, one of South Australia's key wine growing regions.

* Under the newly expanded contract Penrice will also supply limestone from Angaston, also in the Barossa Valley.

Read more...

Tags: australia   chemicals   contract   manufacturer   packaging   plant   soda   wine  

Companies: Amcor Ltd. (AMCRY), Penrice Soda Holdings Ltd (PEHDF)

 

Rio Tinto sells most of Alcan packaging business to Amcor - Zibb.com

After more than a month of negotiations, Australian mining giant RIO TINTO LTD (ASX:RIO) has received a binding offer to sell most of its remaining Alcan Packaging businesses to AMCOR LTD (ASX:AMC). In a statement to the stock exchange on Tuesday, Rio Tinto said Amcor had offered US$2.025 billion for key divisions of Alcan Packaging.

* "We believe Amcor's offer is in the interests of all stakeholders," Rio Tinto chief financial officer, Guy Elliott, said in a statement.

* If the offer is approved, Amcor will take over Alcan Packaging's Global Tobacco, Food Europe and Food Asia, and its Global Pharmaceuticals divisions.

Read more...

Tags: asia   australia   business   europe   food   mining   packaging   pharmaceuticals   tobacco  

Companies: Amcor Ltd. (AMCRY)

 

Web Sites powered by Bing

Total : 300,000 View more »

Amcor Limited

www.amcor.com

Manufactures and distributes broad range of metal, plastic and paper packaging, including steel and aluminum cans, polyethylene bags and tubes, injection mouldings, tobacco cartons ...

http://www.amcor.com/

Amcor - Wikipedia, the free encyclopedia

en.wikipedia.org

Amcor Limited (ASX: AMC) is an Australian-based multinational packaging company. Its headquarters are in Melbourne, and it is listed on the Australian Securities Exchange.

http://en.wikipedia.org/wiki/Amcor

Amcor - Wikipedia, the free encyclopedia

en.wikipedia.org

Amcor Limited (ASX: AMC) is an Australian-based multinational packaging company. Its headquarters are in Melbourne, and it is listed on the Australian Securities Exchange.

http://en.wikipedia.org/wiki/Amcor_Limited

Amcor Limited (AMC) Company Profile - CorporateInformation.com

www.corporateinformation.com

Amcor Limited. The Group's principal activity is operating in packaging market. Its activities are carried out through the following business segments: Amcor PET Packaging, Amcor ...

http://www.corporateinformation.com/Company-Snapshot.aspx?cusip=C03655800