Amcor receives $161m offer for glass tubing business

The Glass Tubing business was acquired with the former Alcan Packaging assets and for the six months ended 31 December 2010 the business had sales of approximately $66m.

A period of exclusivity with Nipro has been agreed, and Amcor will respond to this offer following consultation with the relevant European works councils.

The profit on sale before tax would be approximately $90m and would be reported as a significant item on completion. Completion of the potential transaction would be subject to customary closing conditions.

Source: Amcor

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