MOSCOW (MRC) -- In a deal that will expand its flexible packaging operations in China, global packaging supplier Amcor Ltd. has purchased Hebei Qite Packing Co. Ltd, said the producer on its site.
The terms of the deal have not been disclosed.
Qite has one plant located in Hebei, North China and the business generates sales of over USD28 million from the sale of flexible packaging products to large domestic customers within the dairy and food segments.
"Amcor continues to have substantial opportunities to grow our flexible packaging business in the Asian region. Globally and especially within Asia, China is a very attractive growth market for flexible packaging. This acquisition will enhance our already attractive platform for growth with new and existing customers in the important Northern region," Amcor CEO Ron Delia said in a statement.
Amcor currently has a total of eleven flexible packaging plants in China, including two plants in close proximity to Qite in Northern China.
As it was informed earlier, in the early November, Sonoco completed the sale of its rigid plastics blow molding operations to Amcor, a global leader of rigid and flexible packaging products, for USD280 million.
Amcor Limited is an Australian-based multinational packaging company. It operates manufacturing plants in 42 countries. It is the world's largest manufacturer of plastic bottles.
MRC