Last pieces of Alcan Packaging sold to Amcor, Sun European Partners
Mining conglomerate Rio Tinto has divested itself of the final assets of Montreal-based Alcan Packaging with t...
July 8, 2010 by Canadian Plastics
Mining conglomerate Rio Tinto has divested itself of the final assets of Montreal-based Alcan Packaging with the sale of the remaining beauty and medical flexibles businesses.
In a news release, the Anglo-Australian-based mining company said it received US$66 million from Amcor Ltd. for the medical business and an undisclosed amount from London-based Sun European Partners LLP for the beauty operations.
The medical flexibles business includes four North American plants. With annual sales of about US$115 million, it makes packaging for sterile medical tubing and supplies. The beauty division employs approximately 8,000 people and has 26 plants in 12 countries. It is the world’s leading supplier of tube and fragrance/cosmetics plastic packaging and reported US$932 million in sales in 2008.