Page 8 - Packaging News Magazine Mar-Apr 2021

8 NEWS | www.packagingnews.com.au | March-April 2021
Delivery of Australia’s largest PET
ABOVE: Turning of the sod at the construction site for Australia’s largest end-to-end PET recycling facility, a JV between Pact, Asahi and Cleanaway.
Visy pledges $2bn
CONSTRUCTION is now underway on Australia’s largest end-to- end PET recycling facility in Albury-Wodonga, which will see the equivalent of around one billion 600ml plastic bot- tles recycled each year.
Environment Minister Sus- san Ley marked the official start of construction by turn- ing the first sod on-site in the Nexus Precinct, 10 kilo- metres outside the Albury CBD inNSW.
“This project is integral to ensuring the successful deliv- ery of Australia’s 2025 National Packaging Targets,” Ley said.
Delivered as a joint venture between Asahi Beverages, Pact Group Holdings and Cleanaway Waste Management – Circular Plastics Australia PET – the $45 million plant is set to be fully operational by October, two months earlier than planned.
The post-consumer plastic material that Circular Plastics Australia PET will recycle each year will be used to pro- duce more than 20,000 tonnes of new recycled PET bottles and food packaging.
“This new facility for PET plastic will recycle the contain- ers collected through the NSW Return and Earn scheme and Cleanaway’s Material Recovery Facilities, helping create a domestic circular economy,” said Vik Bansal, Cleanaway CEO and managing director.
According to Pact Group, the new facility will increase the amount of locally sourced and recycled PET produced in the country by two thirds – from around 30,000 tonnes to over 50,000 tonnes per year.
The plant will also reduce Australia’s reliance on virgin plastic and the amount of
FOLLOWING its $1bn acquisition of O-I ANZ last year – one of the biggest manufacturing acquisi- tions by an Australian owned business in Australian busi- ness history – Visy has pledged it will invest a further $2bn in Australian manufacturing over the next 10 years.
Visy chairman Anthony Pratt made this pledge alongside Prime Minister Scott Morrison in February at Visy’s new Pen- rith, Western Sydney glass manufacturing facility, acquired in the 2020 O-I deal.
He commended the Morrison government for “initiating a renaissance in manufacturing”.
Pratt said the coronavirus has reinforced the importance of manufacturing self-suffi- ciency and said Visy applauded the Morrison government’s six-sector manufacturing focus, including Visy’s two
sectors of recycling and clean energy, and food and beverage manufacturing.
Pratt said the $2bn-over-ten- years investment pledge by Visy would create thousands of new manufacturing jobs and would bring Visy’s total invest- ment value in Australia to $11bn dollars.
In response to Pratt’s announcement, Scott Morrison said Visy has given Australia a “shot in the arm” when it comes to Australia’s economic come- back in the Covid-19 recovery.
He said Visy’s vote of confi- dence in Australia “gives us the confidence to continue the eco- nomic recovery that is under- way in Australia”.
Morrison said Visy’s pledge “connects with our govern- ment’s absolute commitment to boost our circular economy industries here in Australia”. ■
Stay-at-home demand boosts Amcor profits
THE world’s largest consumer packaging business Amcor saw its profits surge by 65 per cent in the first six months, on sales that were largely flat, with the company benefiting from stay- at-home consumer demand in the pandemic year.
Net profit rose to US$417m from US$252m in the prior cor- responding six month period. Amcor achieved a rise in profit margins, up to 13.5 per cent from 12.4 per cent the previous year. It lifted its full year profit forecast on the back of the six month figures, and lifted its dividend payout.
Food, beverages and pet food were standout performers for the
business as home con- sumption shot up, although healthcare
softened as elective surgeries were can-
celled round the
world to free up space for coro- navirus patients.
Sales for the six months for the company totalled US$6.2bn (A$8.2bn), which was a sliver up on last year’s US$6.18bn. However, on constant currency basis sales the figures repre- sented a three per cent rise.
The company achieved strong results in both its main divisions, flexibles and rigids, with EBIT growth of nine per cent in flexi- bles and ten per cent in rigids.