Amcor and Bemis have closed their $A9.2bn merger deal following final regulatory approvals being received.

The Bemis buy gives Amcor an expanded footprint in the United States, which CEO Ron Delia says he intends to use to its fullest advantage.

Ron Delia, Amcor.
Significant value: Ron Delia, Amcor.

“The acquisition of Bemis brings additional scale, capabilities and footprint that will strengthen Amcor’s industry leading value proposition and generate significant value for shareholders,” he said.

Amcor has listed on the New York Stock Exchange under the symbol AMCR, and keeps its AMC symbol on the ASX, trading through Chess Depository Interests. Holding company New Amcor incorporated in the UK Channel Island of Jersey, a known tax haven.

“As the global leader in consumer packaging, Amcor is uniquely positioned to capitalise on shifting consumer preferences, an evolving customer and retail landscape, and the increasing need to develop packaging that best protects the product as well as the environment.

“We are delighted to welcome our new employees, customers and shareholders. This is the first day of an exciting and even stronger future for Amcor and all of our stakeholders,” said Delia.

Food & Drink Business

The Victorian Government’s Industrial Hemp Taskforce has strongly backed a trial site as part of its interim report, handed down today.

Innovation and Science Australia has been rebranded and relaunched as Industry Innovation and Science Australia, as one of the first steps in the federal government’s recently announced Modern Manufacturing Strategy.

Employer group Ai Group says insurance stress is a growing concern for business after a poll of its members found more than half reported unusual trouble seeking cover in the last 12 months.