AUSTRALIA: Amcor posts strong growth
The Australian packaging group Amcor has seen its nine-month profits before interest, tax and goodwill amortization increase 38%, boosted by the acquisition last year of Schmalbach-Lubeca and despite sluggish European and US economies. Last year's A$2.9 billion acquisition of Germany's Schmalbach-Lubeca transformed Amcor into a dominant producer of PET. Meanwhile the slowing US drinks market doesn't seemed to have affected Amcor which posted a 25% PET volume growth in the US, helped by strong sales in bottled water.
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