Amcor: Offer From Nipro Corporation For Glass Tubing Business

Amcor has announced that Nipro Corporation has offered to purchase the Amcor Glass Tubing business for US$ 161M. The Glass Tubing business was acquired with the former Alcan Packaging assets and had sales of approximately US$ 66M for the six months ended 31 December 2010. Amcor and Nipro have agreed to a period of exclusivity, and Amcor will respond to this offer following consultation with the relevant European works councils. The profit on sale before tax, reported as a significant item on completion, would be approximately US$ 90M. Completion of the potential transaction would be subject to customary closing conditions.