More
Packaging company Amcor has offered
to buy Rio Tinto''s remaining Alcan Packaging divisions for $2.025 billion,
according to the Associated Press. The offer encompasses global packaging
operations that span pharmaceuticals, tobacco and food. Rio incurred
significant debt in its 2007 purchase of Canadian aluminum giant Alcan Inc. for
$38 billion, and earlier this year sold its Alcan Packaging Food Americas
division to U.S.-based Bemis Company Inc. for $1.2 billion. The divisions of
Alcan Packaging that would be sold to Amcor employ about 14,000 staff at 80
locations in 28 countries. The sale is dependent on approvals from European and
American regulators. The remaining Alcan Packaging division, Beauty, will be
sold separately, Rio Tinto said.
