Amcor announces tobacco pack buy in Mexico

Amcor has announced that it has bought a Mexico-based tobacco packaging plant for $40m Share. According to the packaging giant, the acquisition of Aluprint establishes a local presence in Monterrey, Mexico, a large and strategically located market for tobacco packaging. It follows Amcor’s recently announced purchase of a tobacco packaging operation in Argentina. The Monterrey plant was constructed in 2009 at an approximate cost of $40m and the acquisition price represents the book value of assets acquired, comprising the plant at Monterrey, a cylinder engraving operation and working capital, Amcor said. The business has sales of $30m. Amcor managing director and chief executive Ken MacKenzie said: “The Aluprint acquisition continues the strategy of expanding our presence in Latin America. “Our strong customer relationships coupled with our market leading position in North America provides the opportunity to significantly increase sales on the existing asset base.” The transaction is expected to close in early July 2012.

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