• Glass for recyling by OI Glass: Visy
    Glass for recyling by OI Glass: Visy
Close×

Visy has offloaded its Penrith factory in a $17.25m sale and leaseback deal that will see the company continue to run a glass sorting and recycling operation from the premises.

The 42,000-square-metre plant has been bought by Sandran Property, with Visy taking a seven-year lease on the 8000-square-metre warehouse, with renewal options. Penrith is one of 120 sites that Visy operates from.

The Visy glass-sorting operation mainly supplies O-I Glass, which is located in the same street. O-I Glass ANZ was up for sale, but that process has been deferred until the Covid-19 crisis diminishes. Visy is believed to be the main potential buyer of the business. A sale is expected in the next few months.

If Visy bought O-I Glass ANZ, it would become the sole local producer of cartons, cans, and bottles, making for a highly leverageable trifecta.

O-I Glass has around 1100 staff in Australia, across five plants, including 250 in Penrith. In the year to March, its local business saw full year profits down by four per cent, operating profit down by 35 per cent, and segment profit margin down to 3.4 per cent from 5.3 per cent.

Food & Drink Business

The 300 plus sessions at this year’s World Food Forum (WFF) reinforced its core mission – to mobilise global partnerships, investments, and innovation for sustainable agrifood systems and a hunger-free world.

The rise in snacking culture is well documented, but what are consumers snacking on? It turns out to be more nuanced than first thought. ADM ANZ category marketing manager, Melissa Przydacz, discusses the factors driving the evolution of snack bars and their ingredients.

TomKat Global Solutions has opened expressions of interest for its upcoming wholesale equity raise on VentureCrowd, as it seeks to accelerate the global commercial rollout of its KoolPak reusable packaging system.