Packaging giant Amcor acquires Chinese company Hebei Qite Packing Co.
Posted: 9 November 2016 | New Food | No comments yet
The flexible packaging products maker Hebei Qite Packing Co. has been bought by Amcor for $US28 million…
The flexible packaging products maker Hebei Qite Packing Co. has been bought by Amcor for $US28 million.
Based in the Northern China province of Hebei, the Chinese company’s acquisition is thought to generate sales of over $36m in flexible packaging products to a domestic customer base within the dairy and food sector.
In a statement Amcor’s Managing Director and CEO, Ron Delia asserted that: “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 at present, boasts a total of eleven flexible packaging plants in China, including two plants in close proximity to Qite in Northern China. Once fully in place, Amcor will have an even stronger platform to grow the business in the Chinese market.