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Viscount Plastics has New Owner
July 2001
Pacifica Group Limited has sold its 51% share in Australia's largest injection moulding plastics business, Viscount Plastics for $44.5 million. The "new" owner is Linpac Group Limited, which acquired a 49% interest in Viscount in March 1999.
Viscount manufactures rigid packaging, materials handling, plastic automotive trim and industrial products such as telecommunications pits. It employs over 1,000 people throughout Australia and in China, Malaysia, Thailand and New Zealand. It recorded sales of over $150 million in 2000.
Viscount's Managing Director, Mr Mike Dwyer, said the sale was made for strategic purposes and it would be "business as usual" for Viscount.
"For our customers, employees and suppliers, there will be no significant difference," said Mr Dwyer. "We are now part of a large, international plastics and packaging group that has been very keen to expand its operations in the Australasian and Asia Pacific markets.
"Linpac recognised the quality of our products and processes and the strong links we have forged with major customers throughout the region. Our network of facilities throughout the region gives us access to major growth markets.
"Last year, we increased the capacity of our two Chinese plants and these now service our largest packaging market," he said.
"With Linpac's support, we plan to grow these existing markets and introduce new products as and when opportunities present themselves. We see a very positive future and I believe we are about to enter a new phase of growth."
Over the past twelve months, Viscount has launched a number of new products including plastic lattice for garden and horticultural applications, plastic pallets made from recycled materials and a new generation telecommunications three-piece split pit.
Linpac is a privately owned, international, plastics and packaging manufacturer with annual sales around A$3 billion. Based in Lincolnshire, it has operations in the UK, Europe and North and South America.
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