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Amcor Enters Agreement to Purchase the U.S. Assets of Constar

Business currently operates six plants with annual sales of approximately US$190 million

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Amcor announced that it has entered into an asset purchase agreement with Constar International Holdings LLC to acquire certain of its U.S. business assets.  The U.S. business currently operates six plants with annual sales of approximately US$190 million and has an attractive fit with Amcor Rigid Plastics.

The transaction is expected to be consummated through a court-supervised process under Section 363 of the US Bankruptcy Code which is anticipated to conclude during the first quarter of 2014.

Following the conclusion of the bankruptcy process further details, including final acquisition pricing, will be released to the market.

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