Complementary capabilities, product offering,
and customer base solidifies leadership position in priority high
growth medical device packaging segment
ZURICH, Jan. 16,
2023 /PRNewswire/ -- Amcor (NYSE: AMCR) (ASX:AMC), a
global leader in developing and producing responsible packaging
solutions, today announced it has entered into an agreement to
acquire Shanghai-based MDK. MDK
generates annual sales of approximately $50
million and is a leading provider of medical device
packaging, a key priority growth segment for Amcor.
MDK's coating capabilities, medical paper-based packaging
offerings and customer base complements Amcor's existing portfolio,
further enhancing its leading position in the Chinese medical
device packaging market. The addition of MDK also strengthens
Amcor's leadership in the broader Asia
Pacific medical packaging segment, which now comprises four
manufacturing sites serving the China, India,
Japan and Southeast Asia markets.
"As Amcor continues to sharpen its focus on higher growth
priority segments, the addition of MDK will enhance our already
strong healthcare platform in the Asia
Pacific region," said Amcor CEO Ron
Delia. "MDK's talented team brings strong capabilities and a
complementary product and customer portfolio. We look forward
to working together to unlock value creation opportunities for
customers in this fast-growing, high-value segment, which we
believe will help us continue to deliver strong returns for our
shareholders."
The acquisition of MDK follows the recent opening of Amcor's new
world class Asia Pacific
Innovation Center in Jiangyin, China, and the introduction last year of a
state-of-the-art dedicated healthcare packaging facility in
Singapore.
The acquisition is subject to customary regulatory approvals and
is expected to close in the March
2023 quarter.
About Amcor
Amcor is a global leader in developing and producing responsible
packaging solutions for food, beverage, pharmaceutical, medical,
home and personal-care, and other products. Amcor works with
leading companies around the world to protect their products and
the people who rely on them, differentiate brands, and improve
supply chains through a range of flexible and rigid packaging,
specialty cartons, closures and services. The company is focused on
making packaging that is increasingly lighter weight, recyclable
and reusable, and made using an increasing amount of recycled
content. In fiscal year 2022, 44,000 Amcor people generated
$15 billion in annual sales from
operations that span 220 locations in 43 countries. NYSE: AMCR;
ASX: AMC
www.amcor.com I LinkedIn I Facebook I YouTube
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content:https://www.prnewswire.com/news-releases/amcor-expands-healthcare-platform-in-the-asia-pacific-region-with-acquisition-of-mdk-301722188.html
SOURCE Amcor