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Packaging company Amcor Limited (ASX:AMC) has acquired a selection of tobacco packaging assets across the US, South Korea, Mexico and China for $US114.8 million.
Under the deal Amcor has bought businesses of AGI-Shorewood’s Tobacco Packaging and Specialty Folding Carton Operations.
The businesses generated sales of $US126 million in 2012 and are expected to give Amcor a return of investment of more than 20 per cent within three years.
Managing Director Ken MacKenzie says the purchase is aligned with Amcor’s strategic objective of expanding its position in emerging markets.
Amcor reported a net profit of $437 million in the 2012 financial year.
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