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Owens-Illinois has announced that ACI Packaging, a subsidiary of the company, has agreed to a conditional sale of a substantive part of its plastics packaging business in Australia and New Zealand to Visy Industrial Plastics, a wholly-owned subsidiary of Visy Industrial Packaging. The sale, which excludes ACI’s beverage containers business in Australia, is subject to regulatory approvals in both Australia and New Zealand. Expected cash proceeds of approximately A$76.5 million will be used to repay bank debt.ACI Plastics Packaging is one of Australasia’s largest manufacturers of rigid plastic packaging products, serving local and regional markets. Its main markets include packaged and fresh food, beverage, pharmaceutical, health care, industrial household and specialty packaging.
Owens-Illinois is the largest manufacturer of glass containers in North America, South America, Australia and New Zealand, and one of the largest in Europe. O-I also is a worldwide manufacturer of plastics packaging with operations in North America, South America, Europe, Australia and New Zealand. Plastics packaging products manufactured by Owens-Illinois include consumer products (blow molded containers, injection molded containers and closures, and dispensing systems) and prescription containers.
