Onex completes SIG Combibloc acquisition for €3.75bn
Private equity firm Onex Corporation completed the acquisition of SIG Combibloc Group from Reynolds Group, in a previously announced deal worth €3.75bn.
A part of the New Zealand-based Rank Group, SIG Combibloc will now be completely owned by Onex and SIG’s management team.
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In November last year, Rank Group and Onex signed an agreement to this effect.
European Commission approves Wendel’s €2.3bn acquisition of Constantia Flexibles
The European Commission approved the €2.3bn acquisition of Austria-based Constantia Flexibles by French investment group Wendel Group.
The commission reviewed the transaction under the simplified merger review procedure and concluded that the proposed acquisition would not raise competition concerns, as Constantia Flexibles and Wendel are not operating in the same markets.
Constantia Flexibles produces flexible packaging and labelling solutions, principally for the food and beverage, pet food and pharmaceutical industries.
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By GlobalDataTakween signs $346.6m loan for Savola Packaging buyout
Saudi Arabian firm Takween Advanced Industries signed a SAR1.3bn ($346.6m) Islamic loan with a consortium of local banks for Savola Packaging buyout.
In December last year, the company agreed to acquire Savola Group’s packaging unit for $242.5m.
The consortium comprising Arab National Bank, Samba Financial Group and Bank Albilad will provide the loan to Takween in two parts, Reuters reported citing a Takween bourse filing.
Schur Pack Germany to increase folding box capacity with new €70m facility
Construction work started on Schur Pack Germany’s advanced high-tech folding box facility.
Said to be one of Europe’s most modern plant, the new facility at the future Business Park A24 location will see an investment of approximately €70m.
Majority of the proposed investment will be invested in production equipments including printing and processing machines, in order to meet the increasing customer demands for quality and reduced delivery times.
Indorama agrees to acquire 94.91% stake in Bangkok Polyester
Thai polyester and yarn manufacturer Indorama Ventures agreed to acquire a 94.91% stake in polyethylene terephthalate (PET) polymers maker Bangkok Polyester from Bangkok Cable Company for an undisclosed amount.
Completed at the start of the year, the acquisition will ramp up Indorama’s annual capacity in Turkey to 382,000t.
The company claims that the value of the acquisition, when calculated in accordance with the regulations of the Capital Market Supervisory Board and the Stock Exchange of Thailand, is less than 15% and the total size of transactions in the past six months is also less than 15%.
Genentech to invest $125m in Hillsboro fill/finish facility
US-based drug maker Genentech planned to expand its fill/finish facility in Hillsboro, Oregon, with an investment of approximately $125m.
The expansion forms a part of the company’s strategy to increase manufacturing capacity to meet biotechnology and pharmaceutical products demand.
This will add an additional production line to the existing two production lines at Hillsboro facility, which packages bulk drugs into individual doses and vials for distribution, reports oregonlive.
Novelis introduces evercycle for aluminium food containers
Aluminium rolling and recycling provider Novelis launched evercycle, which is made from certified high-recycled content aluminium for aluminium food containers.
This forms a part of the company’s plan to increase the overall recycled content of its products to 80% by 2020.
Novelis claims that evercycle is certified by SCS Global Services to contain 100% recycled aluminium, made up of 90% post-consumer content and 10% customer manufacturing scrap.
UK Parliament approves new law to implement plain cigarette packaging
The UK Parliament passed new legislation that will implement mandatory plain packaging for tobacco products.
This comes amid legal threats from the nation’s $29bn tobacco industry.
The upper house of parliament is yet to pass the law, which would permit only specified text such as the brand and variant name, and ensure that any permitted text adheres to particular requirements.
