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Amcor to sell Fairfield paper mill for $120m

Australian packaging company Amcor has announced that it reached an agreement to sell its property in Fairfield for a consideration of $120m.

The purchaser is a consortium led by Alpha Partners and a company associated with Glenvill Group.

According to Amcor, the agreement is subject to expected regulatory approvals.

The company will obtain a $10m deposit on exchange of contracts and the proceeds will be paid over a four year period. The profit on sale is anticipated to be about $60m.

Global packaging solutions provider Amcor supplies a range of plastic (rigid & flexible), fiber, metal and glass packaging products.

The company also provides packaging related services that help customers succeed through collaboration and innovation.