Amcor expands in China

Australian packaging group, Amcor, is setting forward to expand and grow in China. The company, which earlier acquired Alcan Packaging and Ball Plastics during the global financial crisis, is now reaping the fruits of its decision. Amcor’s flexible business, which includes tobacco packaging, is set for more growth in China, following Amcor’s acquisition of factoriesin Beijing and Chengdu. The major boost to its net profit of $412.6 million for the year to June 30 was from its developing markets in Latin America, Eastern Europe and Asia. Business in China, where Amcor is the largest foreign packaging company, grew at 13% whilst Latin America grew at 5-7%.