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2006-06-02 News Headlines

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AMCOR White Cap European closures sale completed

Sale of previously announced AMCOR White Cap closures business has been completed with sites outside Europe awaiting approval.

The sale of the Amcor White Cap closures business, previously announced in February 2006, to Silgan Holdings Inc., has been completed.

The European businesses is headquartered in Hanover, Germany and operates manufacturing facilities in Germany, Poland and Italy.

The acquisition by Silgan will operate under the name Silgan White Cap, as a leading supplier of an extensive range of metal closures to consumer goods packaging companies in the food and beverage industries in Europe, Asia and South America.

The remaining Amcor sites outside Europe will close upon satisfactory completion of specific closing conditions pursuant to the purchase agreement. The proceeds from the sale of the Amcor European business was €185.8 million.

Silgan metal food containers. photo: Silgan

Silgan Holdings Inc.. (Nasdaq:SLGN) is a leading North American manufacturer of consumer goods packaging products with annual net sales of approximately USD 2.5 billion in 2005. Silgan operates 64 manufacturing facilities in the U.S., Canada and Europe. In North America, Silgan is the largest supplier of metal containers for food products and a leading supplier of plastic containers for personal care products. In addition, Silgan is a leading supplier of metal, composite and plastic vacuum closures for food and beverage products in North America and Europe.

Silgan metal food container business is engaged in the manufacture and sale of steel and aluminum containers that are used primarily by processors and packagers for food products, such as soup, vegetables, fruit, meat, tomato based products, coffee, seafood, adult nutritional drinks, pet food, and other miscellaneous food products. We estimate that approximately 90% of our projected metal food container sales in 2005 will be pursuant to multi-year customers supply arrangements, including agreements with Nestle, Del Monte, Campbell and several other major food processors. Our metal food container business also manufactures metal, composite and plastic vacuum closures for food and beverage products.

Amcor is ranked in the Top 100 of Australian listed companies. Amcor shares are traded on the Australian Stock Exchange (ASX). All shares are recorded on the principal share register of Amcor Limited, located in Victoria, Australia. Amcor Investments (New Zealand) Ltd PACRS and PACRS2 convertible notes are listed on the Australian Stock Exchange and the USD Convertible Unsecured Notes are listed on the NASDAQ SmallCAP Market in the US.

Find Information and Suppliers for metal closures and metal containers.

Read a recent press release from AMCOR about - 'Amcor PET Packaging, the leading manufacturer of PET plastics packaging for the global food and beverage industries, supplies MD Drinks with PowerFlex bottles.'

Find information about Amcor Ltd.

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