Packaging giant Amcor has expanded its presence in China with the acquisition of flexible packaging products maker Hebei Qite Packing Co for $A36 million.
Qite operates one plant in the Northern China province of Hebei, with sales of 180 million yuan ($A34 million) to customers in the dairy and food segments.
Amcor currently has 11 flexible packaging plants in China, including two plants in close proximity to Qite in northern China.
“Amcor continues to have substantial opportunities to grow our flexible packaging business in the Asian region,” says Amcor MD and CEO Ron Delia.
“Globally and especially within Asia, China is a very attractive growth market for flexible packaging. This acquisition will enhance our already attractive platform for growth with new and existing customers in the important Northern region.”
The acquisition is subject to regulatory approvals.