Amcor announced it will buy selected assets of AGI-Shorewood’s (ASG) tobacco packaging and specialty folding operations for USD 114.8 million (EUR 85.7 million) to expand in Asia, Latin America and the US.

“This acquisition is aligned with our strategic objective of expanding our position in emerging markets,” said Amcor Chief Executive Officer Ken MacKenzie.
Acquired businesses include plants or other assets in South Korea, Mexico and China. The Mexico addition will build on Amcor’s position in that country, following the recent purchase of Aluprint, the Australian packaging manufacturer said in its statement. The ASG plant in Smiths Falls, Canada, is not part of the sale, Amcor said.
AGI-Shorewood rebranded to ASG (AGI-Shorewood Group) last year following the merger of AGI and Shorewood Packaging. (ci)