Amcor to buy plastic packaging company

Posted on Wednesday, June 16th, 2010 at 4:47 pm    

Amcor Ltd., an Australia-based company is planning to buy a plastic packaging company, Ball Corp, for $280 million.

Ball Corp. is a Colorado-based company that supplies metal and plastic packaging. The business contract is expected to close during the third quarter of 2010. Amcor is hoping that the purchase will help to operating efficiency.

The sale price includes $265 million cash and $15 million contingent consideration. The deal includes inquiring five business plants that employ nearly 1,000 people. The plants manufacture polyethylene terephthalate bottles as well as other related assets.

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