Amcor to sell factories in Russia
19 August 2022
Amcor announced today that it will be selling its three factories in Russia. This announcement is in line with its statement in March regarding scaling down activities and exploring strategic options for its Russia operations. Until completion of the sale, which is currently expected to occur in the second half of its 2023 fiscal year, Amcor remain committed to supporting its employees and customers, while preserving value for shareholders through an orderly sale process. The guidance Amcor provided for FY23 in its recent year-end results takes into account a number of potential outcomes regarding the sale of Amcor’s factories in Russia. Amcor’s quarterly and year-end financials for FY22 can be found here.
Amcor is a global leader in developing and producing responsible packaging solutions for food, beverage, pharmaceutical, medical, home and personal-care, and other products. Amcor works with leading companies around the world to protect their products and the people who rely on them, differentiate brands, and improve supply chains through a range of flexible and rigid packaging, specialty cartons, closures, and services. The company is focused on making packaging that is increasingly lighter weight, recyclable and reusable, and made using an increasing amount of recycled content. In fiscal year 2022, 44,000 Amcor people generated $15 billion in annual sales from operations that span 220 locations in 43 countries. NYSE: AMCR; ASX: AMC