Australian packaging giant Amcor has paid $US40 million ($A38.85 million) for a tobacco packaging plant in Mexico after recently announcing the purchase of a similar operation in Argentina.
Amcor chief executive Ken MacKenzie said the Aluprint acquisition was in line with the company’s strategy to expand its presence in Latin America.
“Our strong customer relationships coupled with our market-leading position in North America provide the opportunity to significantly increase sales on the existing asset base,” MacKenzie said.
The purchase comprises the plant, a cylinder engraving operation and working capital. The transaction is expected to be completed in July.