Rio Tinto (London / UK; www.riotinto.com) seems to have found a buyer for several Alcan Packaging (Paris / France; www.alcanpackaging.com) units. Global packaging manufacturer Amcor (Abbotsford / Australia; www.amcor.com) is to acquire a majority of the Alcan Packaging businesses, specifically the pharmaceuticals, food Europe, food Asia and global tobacco divisions. Rio Tinto said that the remaining beauty packaging division will be sold separately.

The proposed acquisition, valued at just over USD 2 bn, would result in the establishment of one of the world’s biggest packaging companies and would boost Amcor’s annual income by some USD 4.1 bn. The offer includes taking over 14,000 employees, located in 28 countries worldwide.

The deal is not expected to be closed for several months. Until then both Amcor and Alcan will operate as separate entities, although a period of exclusivity has been agreed between Rio Tinto and Amcor. Rio Tinto will respond to this binding offer following consultation with the relevant European works councils. Rio Tinto CFO Guy Elliott expressed optimism, saying that the offer “is in the interest of all stakeholders.”

In July 2009, Rio Tinto sold its Alcan Packaging Food Americas business to Bemis (Minneapolis, Minnesota / USA; www.bemis.com) – see Plasteurope.com of 10.07.2009 – effectively spelling the end of the original plan to sell all Alcan businesses as one unit.

The acquisition is in line with Amcor’s objective of expanding its flexible packaging and folding cartons packaging segments. Commenting on the purchase, Amcor’s CEO Ken MacKenzie said, “Growing our businesses in a sustainable manner was always our stated intention and we are pleased to have entered into this agreement. We are committed to becoming a leader in the global packaging industry.”