AMVIG, a tobacco packaging specialist, has two core businesses such as cigarette packaging printing and transfer paper and laser film manufacturing
Amcor has announced divestment of 47.6% stake in AMVIG for $124m. (Credit: Adam Radosavljevic from Pixabay)
Packaging solutions provider Amcor has agreed to sell its 47.6% equity accounted investment in AMVIG Holdings to New Prospect Capital for $124m.
The deal, via share sale, is expected to be completed in the coming days.
Founded in 1998, AMVIG is a major tobacco packaging specialist that is listed on the Hong Kong Stock Exchange.
The company manages two core businesses, including cigarette packaging printing and transfer paper and laser film manufacturing in the PRC.
AMVIG conducts business activities in major Chinese provinces and cities
AMVIG carries out business activities in major Chinese provinces and cities, including Anhui, Beijing, Jiangsu, Guangdong, Shandong, Shanxi, Yunnan and Zhejiang.
The company operates eight cigarette packaging printing plants, as well as two transfer paper and laser film manufacturing plants.
In June 2019, Amcor completed the $6.8bn (£5.3bn) merger deal with US-based flexible packaging major Bemis in an all-stock deal.
The combined company is now operating as Amcor Plc (Amcor). It will be trading on the New York Stock Exchange and the Australian Securities Exchange.
Amcor is engaged in the development and manufacturing of packaging solutions for food, beverage, pharmaceutical, medical, home- and personal-care, and other products.
With around 230 locations in more than 40 countries, the company offers a range of flexible and rigid packaging, specialty cartons, closures, and services.